Exchange Traded Concepts LLC Raises Stock Holdings in Equity Residential (NYSE:EQR)

Exchange Traded Concepts LLC increased its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 314.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,446 shares of the real estate investment trust's stock after purchasing an additional 20,818 shares during the quarter. Exchange Traded Concepts LLC's holdings in Equity Residential were worth $1,965,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its stake in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Equity Residential by 51.6% during the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 157 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 156 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Equity Residential during the 4th quarter worth $51,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on EQR shares. Wedbush reiterated a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a research note on Wednesday, May 28th. Stifel Nicolaus decreased their price target on Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Mizuho decreased their price target on Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Truist Financial increased their price target on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Scotiabank decreased their price target on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a research note on Friday, June 13th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $79.25.

Equity Residential Stock Down 0.5%

Shares of EQR stock opened at $68.72 on Wednesday. The stock's 50-day simple moving average is $69.09 and its 200-day simple moving average is $70.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market capitalization of $26.11 billion, a PE ratio of 26.23, a P/E/G ratio of 4.03 and a beta of 0.90. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. Equity Residential's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Equities analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is 105.73%.

Equity Residential Company Profile

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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