New Age Alpha Advisors LLC Buys 19,995 Shares of Equity Residential (NYSE:EQR)

Key Points

• New Age Alpha Advisors LLC increased its stake in Equity Residential (NYSE:EQR) by 23.7%, holding 104,413 shares valued at approximately $7.47 million.
• Equity Residential reported a quarterly EPS of $0.99, aligning with analysts' estimates, while its revenue was up 4.7% year-over-year, totaling $768.83 million.
• The company recently declared a quarterly dividend of $0.6925 per share, leading to an annualized dividend yield of 4.4%, despite a payout ratio of 105.73%.

New Age Alpha Advisors LLC grew its position in Equity Residential (NYSE:EQR - Free Report) by 23.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 104,413 shares of the real estate investment trust's stock after buying an additional 19,995 shares during the period. New Age Alpha Advisors LLC's holdings in Equity Residential were worth $7,474,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. APG Asset Management US Inc. raised its holdings in Equity Residential by 0.5% in the fourth quarter. APG Asset Management US Inc. now owns 11,664,576 shares of the real estate investment trust's stock worth $837,050,000 after buying an additional 57,660 shares during the last quarter. Invesco Ltd. grew its stake in shares of Equity Residential by 12.0% in the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock worth $468,050,000 after acquiring an additional 696,343 shares during the period. Northern Trust Corp grew its stake in shares of Equity Residential by 53.1% in the fourth 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. Dimensional Fund Advisors LP grew its stake in shares of Equity Residential by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,224,576 shares of the real estate investment trust's stock worth $374,911,000 after acquiring an additional 60,099 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Equity Residential by 5.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,497,831 shares of the real estate investment trust's stock worth $322,764,000 after acquiring an additional 238,686 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Price Performance

Equity Residential stock traded down $0.70 during mid-day trading on Friday, reaching $63.19. 1,337,577 shares of the company's stock traded hands, compared to its average volume of 2,193,361. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 3.29 and a beta of 0.92. The stock has a 50 day moving average of $67.13 and a two-hundred day moving average of $68.88. The company has a quick ratio of 0.20, a current ratio of 0.17 and a debt-to-equity ratio of 0.75. Equity Residential has a 12-month low of $59.41 and a 12-month high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.99. The company had revenue of $768.83 million for the quarter, compared to the consensus estimate of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. Equity Residential's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities analysts forecast that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were given a dividend of $0.6925 per share. The ex-dividend date was Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a yield of 4.4%. Equity Residential's payout ratio is 104.53%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank reduced their price target on shares of 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. Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the company a "buy" rating in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Mizuho cut their target price on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Barclays boosted their target price on shares of Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Equity Residential presently has a consensus rating of "Hold" and an average price target of $78.43.

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.