Handelsbanken Fonder AB Increases Position in Equity Residential $EQR

Key Points

• Handelsbanken Fonder increased its Equity Residential stake by 30.1% in the second quarter, acquiring 57,374 additional shares for a total of 248,010 shares valued at approximately $16.8 million. Institutional investors collectively own 92.68% of the REIT.
• Equity Residential’s stock opened at $64.33, down 1.2%, with a 52-week range of $57.57 to $71.50. The company pays a quarterly dividend of $0.7025 per share, equivalent to a 4.4% annualized yield.
• Analysts remain generally neutral, with an average “Hold” rating and a consensus price target of $71.40; recent target increases ranged from $66 to $72, including a “Buy” rating from Truist Financial.

Handelsbanken Fonder AB lifted its position in Equity Residential (NYSE:EQR - Free Report) by 30.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,010 shares of the real estate investment trust's stock after acquiring an additional 57,374 shares during the period. Handelsbanken Fonder AB owned 0.07% of Equity Residential worth $16,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional grew its stake in Equity Residential by 5.7% during the 2nd quarter. CX Institutional now owns 2,939 shares of the real estate investment trust's stock valued at $200,000 after purchasing an additional 159 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in shares of Equity Residential by 4.9% in the fourth quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust's stock worth $223,000 after purchasing an additional 165 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Equity Residential by 0.3% in the first quarter. Cetera Investment Advisers now owns 61,177 shares of the real estate investment trust's stock worth $3,619,000 after purchasing an additional 171 shares during the last quarter. Leonteq Securities AG lifted its holdings in shares of Equity Residential by 48.8% during the first quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 180 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Equity Residential by 4.2% during the first quarter. Frank Rimerman Advisors LLC now owns 4,990 shares of the real estate investment trust's stock worth $295,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Down 1.2%

Equity Residential stock opened at $64.33 on Thursday. The business's 50-day moving average price is $67.54 and its 200 day moving average price is $64.47. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.77. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. Equity Residential has a 52 week low of $57.57 and a 52 week high of $71.50.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were paid a dividend of $0.7025 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.4%. Equity Residential's dividend payout ratio (DPR) is presently 122.17%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQR. Scotiabank increased their price target on shares of Equity Residential from $67.00 to $70.00 and gave the stock a "sector perform" rating in a report on Thursday, July 9th. Mizuho lifted their price objective on shares of Equity Residential from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. Weiss Ratings raised shares of Equity Residential from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Truist Financial increased their price objective on shares of Equity Residential from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Finally, Cantor Fitzgerald raised their target price on shares of Equity Residential from $64.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Equity Residential presently has an average rating of "Hold" and an average target price of $71.40.

Equity Residential 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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