Harbor Capital Advisors Inc. bought a new stake in Equity Residential (NYSE:EQR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,178 shares of the real estate investment trust's stock, valued at approximately $585,000.
A number of other institutional investors have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB lifted its position in shares of Equity Residential by 143.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 933 shares of the real estate investment trust's stock worth $67,000 after buying an additional 550 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Equity Residential by 8.2% during the 4th quarter. Empowered Funds LLC now owns 7,263 shares of the real estate investment trust's stock worth $516,000 after purchasing an additional 550 shares in the last quarter. Sovran Advisors LLC purchased a new position in Equity Residential in the 4th quarter valued at about $255,000. Asset Management One Co. Ltd. increased its stake in shares of Equity Residential by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 696,540 shares of the real estate investment trust's stock valued at $49,858,000 after acquiring an additional 17,757 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Equity Residential by 33.3% during the 4th quarter. Principal Securities Inc. now owns 2,540 shares of the real estate investment trust's stock worth $182,000 after purchasing an additional 634 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
EQR has been the subject of several research analyst reports. Barclays increased their target price on Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Truist Financial raised their price target on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, March 10th. Wedbush reiterated a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a research report on Wednesday, May 28th. Scotiabank cut 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. Finally, Stifel Nicolaus cut their price objective on Equity Residential from $82.25 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $79.25.
Read Our Latest Report on EQR
Equity Residential Stock Down 2.0%
Shares of Equity Residential stock traded down $1.40 on Friday, hitting $68.77. The company had a trading volume of 1,586,511 shares, compared to its average volume of 1,717,549. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 3.99 and a beta of 0.90. Equity Residential has a 1 year low of $59.41 and a 1 year high of $78.84. The stock has a 50 day moving average of $68.91 and a 200-day moving average of $70.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36.
Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. Equity Residential had a return on equity of 9.27% and a net margin of 34.76%. The firm had revenue of $760.81 million during the quarter, compared to analyst estimates of $769.43 million. During the same period last year, the company earned $0.93 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Equity Residential will post 3.98 earnings per share for the current year.
Equity Residential Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be issued a $0.6925 dividend. This represents a $2.77 annualized dividend and a dividend yield of 4.03%. Equity Residential's dividend payout ratio is currently 105.73%.
Equity Residential Company Profile
(
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.
Featured Stories
Before you consider Equity Residential, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equity Residential wasn't on the list.
While Equity Residential currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
