Principal Financial Group Inc. cut its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,709,291 shares of the real estate investment trust's stock after selling 188,572 shares during the quarter. Principal Financial Group Inc. owned about 2.03% of Equity Residential worth $551,831,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Equity Residential by 119.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock valued at $34,714,000 after buying an additional 263,622 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Equity Residential during the fourth quarter valued at $321,000. Sequoia Financial Advisors LLC lifted its position in Equity Residential by 6.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,246 shares of the real estate investment trust's stock valued at $232,000 after purchasing an additional 191 shares during the period. Keybank National Association OH lifted its position in Equity Residential by 2.0% during the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock valued at $502,000 after purchasing an additional 139 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Equity Residential by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 4,210,383 shares of the real estate investment trust's stock valued at $302,137,000 after purchasing an additional 136,275 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.
Equity Residential Price Performance
Shares of Equity Residential stock traded down $0.36 during trading hours on Friday, reaching $66.31. The stock had a trading volume of 1,362,183 shares, compared to its average volume of 1,758,990. The stock's 50 day moving average is $69.10 and its 200 day moving average is $69.60. The firm has a market capitalization of $25.19 billion, a PE ratio of 25.31, a PEG ratio of 3.90 and a beta of 0.88. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.84. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70.
Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The business had revenue of $760.81 million during the quarter, compared to the consensus estimate of $769.43 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The company's revenue was up 4.1% compared to the same quarter last year. Equities analysts expect that Equity Residential will post 3.98 earnings per share for the current fiscal year.
Equity Residential Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 24th will be given a dividend of $0.6925 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.18%. Equity Residential's dividend payout ratio (DPR) is presently 105.73%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada boosted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Scotiabank decreased their target price on shares of Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a research report on Friday, June 13th. Barclays boosted their target price on shares of Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Truist Financial boosted their target price on shares of Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $79.25.
Get Our Latest Analysis on EQR
About Equity Residential
(
Free Report)
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.
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