New Age Alpha Advisors LLC Has $7.47 Million Stock Holdings in 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 raised its stake in Equity Residential (NYSE:EQR - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,413 shares of the real estate investment trust's stock after buying an additional 19,995 shares during the quarter. New Age Alpha Advisors LLC's holdings in Equity Residential were worth $7,474,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. APG Asset Management US Inc. increased its stake in Equity Residential by 0.5% in the 4th quarter. APG Asset Management US Inc. now owns 11,664,576 shares of the real estate investment trust's stock valued at $837,050,000 after buying an additional 57,660 shares during the period. Invesco Ltd. increased its stake in Equity Residential by 12.0% in the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after buying an additional 696,343 shares during the period. Northern Trust Corp increased 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 valued at $464,718,000 after buying an additional 2,246,555 shares during the period. Dimensional Fund Advisors LP increased its stake in Equity Residential by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,224,576 shares of the real estate investment trust's stock valued at $374,911,000 after buying an additional 60,099 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Equity Residential by 5.6% during the 4th 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 purchasing an additional 238,686 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Wall Street Analysts Forecast Growth

EQR has been the topic of several analyst reports. Evercore ISI upgraded shares of Equity Residential from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $74.00 to $75.00 in a research note on Monday, July 7th. Barclays increased their price target on shares of Equity Residential from $79.00 to $83.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Mizuho dropped their price target on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Scotiabank dropped their price target on shares of Equity Residential from $82.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. Finally, Wedbush reiterated a "neutral" rating and issued a $75.00 target price on shares of Equity Residential in a research note on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $78.40.

Equity Residential Price Performance

NYSE:EQR opened at $62.69 on Tuesday. The company has a 50-day moving average of $67.60 and a 200-day moving average of $69.05. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.25 and a beta of 0.92. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20.

Equity Residential (NYSE:EQR - Get Free Report) last released 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. The company had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. As a group, equities research analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th were issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is presently 105.73%.

Equity Residential 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.

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