Exchange Traded Concepts LLC Boosts Stock Position in Equity Residential $EQR

Key Points

• Exchange Traded Concepts LLC increased its Equity Residential stake by 23.6% in the second quarter, adding 42,978 shares for a total of 224,705 shares valued at approximately $15.3 million. Institutional investors collectively own 92.68% of the REIT.
• Analyst sentiment remains mixed, with one Strong Buy, eight Buy, and fourteen Hold ratings. Equity Residential has an average rating of Hold and a consensus price target of $71.40.
• Equity Residential recently paid a quarterly dividend of $0.7025 per share, equivalent to an annualized $2.81 payout and a 4.3% yield. Shares opened at $65.96, within a 52-week range of $57.57 to $71.50.

Exchange Traded Concepts LLC raised its holdings in Equity Residential (NYSE:EQR - Free Report) by 23.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,705 shares of the real estate investment trust's stock after purchasing an additional 42,978 shares during the period. Exchange Traded Concepts LLC owned about 0.06% of Equity Residential worth $15,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fulcrum Asset Management LLP bought a new stake in shares of Equity Residential in the third quarter worth $27,000. Zions Bancorporation National Association UT boosted its stake in Equity Residential by 375.2% during the 4th quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 379 shares during the last quarter. DV Equities LLC bought a new position in Equity Residential during the 4th quarter valued at $30,000. Harvest Fund Management Co. Ltd bought a new position in Equity Residential during the 3rd quarter valued at $31,000. Finally, Leonteq Securities AG grew its holdings in Equity Residential by 48.8% during the 1st quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 180 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Equity Residential from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Stifel Nicolaus lifted their price target on Equity Residential from $78.25 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Evercore boosted their price objective on Equity Residential from $70.00 to $71.00 in a report on Monday, June 8th. Piper Sandler upped their price objective on Equity Residential from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Finally, Mizuho upped their price objective on Equity Residential from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Equity Residential has an average rating of "Hold" and a consensus target price of $71.40.

Equity Residential Price Performance

EQR opened at $65.96 on Friday. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 5.12 and a beta of 0.73. Equity Residential has a fifty-two week low of $57.57 and a fifty-two week high of $71.50. The company's 50-day moving average price is $67.50 and its 200 day moving average price is $64.49. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.77.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were issued a dividend of $0.7025 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 annualized dividend and a dividend yield of 4.3%. Equity Residential's dividend payout ratio is 122.17%.

Equity Residential Company Profile

Equity Residential NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.

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