Ieq Capital LLC Grows Stake in Equity Residential $EQR

Key Points

• Ieq Capital LLC increased its stake in Equity Residential by 191.1% in the first quarter, holding 12,884 shares valued at approximately $922,000.
• Equity Residential's stock has seen a 3.3% decline recently, with current shares priced at $63.96 and a market cap of $24.42 billion.
• The company reported a $0.99 EPS for the last quarter, matching expectations, and has set its FY 2025 guidance at 3.970-4.030 EPS.

Ieq Capital LLC raised its stake in Equity Residential (NYSE:EQR - Free Report) by 191.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,884 shares of the real estate investment trust's stock after acquiring an additional 8,458 shares during the quarter. Ieq Capital LLC's holdings in Equity Residential were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Equity Residential by 51.6% in the first quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 157 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in Equity Residential in the first quarter valued at about $37,000. Keystone Global Partners LLC purchased a new position in Equity Residential in the first quarter valued at about $47,000. Zions Bancorporation National Association UT purchased a new position in Equity Residential in the first quarter valued at about $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Equity Residential by 27.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 160 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Down 3.3%

EQR opened at $63.96 on Wednesday. The company has a 50 day moving average of $65.55 and a 200 day moving average of $68.17. The company has a market cap of $24.42 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 3.36 and a beta of 0.93. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.75.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The firm had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. During the same period last year, the firm earned $0.97 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, sell-side analysts expect that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were issued a $0.6925 dividend. This represents a $2.77 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is presently 104.53%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EQR. Wells Fargo & Company dropped their target price on shares of Equity Residential from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Truist Financial dropped their price target on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Barclays cut their price objective on shares of Equity Residential from $83.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Scotiabank cut their price objective on shares of Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $75.00 price objective on shares of Equity Residential in a report on Wednesday, May 28th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Equity Residential presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.16.

About Equity Residential

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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