HGI Capital Management LLC Decreases Stake in Equity Residential $EQR

Key Points

• HGI Capital Management LLC has reduced its stake in Equity Residential by 5.9%, now owning 96,699 shares valued at approximately $6.92 million, making it the largest position in their portfolio.
• Several hedge funds have increased their holdings in Equity Residential, with notable increases of 51.6% and 27.6% from Versant Capital Management and MassMutual Private Wealth & Trust, respectively.
• Equity Residential reported an EPS of $0.99 for the recent quarter, meeting analysts' expectations, and announced a quarterly dividend of $0.6925 per share, resulting in an annualized yield of 4.3%.

HGI Capital Management LLC lessened its holdings in Equity Residential (NYSE:EQR - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,699 shares of the real estate investment trust's stock after selling 6,026 shares during the quarter. Equity Residential makes up about 8.6% of HGI Capital Management LLC's holdings, making the stock its largest position. HGI Capital Management LLC's holdings in Equity Residential were worth $6,922,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Equity Residential by 0.4% during the first quarter. Vanguard Group Inc. now owns 56,000,934 shares of the real estate investment trust's stock worth $4,008,547,000 after purchasing an additional 199,943 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Equity Residential by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust's stock worth $1,482,537,000 after purchasing an additional 1,101,027 shares in the last quarter. Invesco Ltd. grew its stake in Equity Residential by 1.7% in the 1st quarter. Invesco Ltd. now owns 6,634,446 shares of the real estate investment trust's stock worth $474,894,000 after acquiring an additional 112,004 shares during the period. Northern Trust Corp grew its stake in Equity Residential by 53.1% in the 4th quarter. Northern Trust Corp now owns 6,476,004 shares of the real estate investment trust's stock worth $464,718,000 after acquiring an additional 2,246,555 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Equity Residential by 8.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,560,478 shares of the real estate investment trust's stock valued at $326,439,000 after purchasing an additional 350,095 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Up 1.4%

EQR traded up $0.89 during trading on Monday, reaching $66.18. The company had a trading volume of 1,412,925 shares, compared to its average volume of 2,138,358. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The business's fifty day moving average price is $65.68 and its 200 day moving average price is $68.23. The company has a market cap of $25.28 billion, a P/E ratio of 24.98, a PEG ratio of 3.36 and a beta of 0.93.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The business had revenue of $768.83 million for the quarter, compared to analyst estimates of $770.60 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. Equities analysts anticipate that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 24th were given a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is currently 104.53%.

Analyst Ratings Changes

Several research firms recently weighed in on EQR. Evercore ISI reduced their target price on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Truist Financial cut their target price on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating for the company in a research note on Friday. Mizuho cut their price target on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wall Street Zen lowered shares of Equity Residential from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Stifel Nicolaus set a $80.50 price target on shares of Equity Residential and gave the company a "buy" rating in a report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $77.16.

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.