Nicola Wealth Management LTD. Grows Holdings in Equity Residential $EQR

Key Points

• Nicola Wealth Management LTD. increased its stock position in Equity Residential by 33.1% in Q1, owning 33,528 shares valued at $2.4 million.
• Institutional investors hold 92.68% of Equity Residential's stock, with other notable investors including Vanguard Group and Price T Rowe Associates.
• Analysts have lowered their price targets for Equity Residential, with an average rating of "Hold" and a target price of $75.96.

Nicola Wealth Management LTD. raised its stake in Equity Residential (NYSE:EQR - Free Report) by 33.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,528 shares of the real estate investment trust's stock after purchasing an additional 8,330 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Equity Residential were worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of EQR. Vanguard Group Inc. grew its holdings in 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 valued at $4,008,547,000 after purchasing an additional 199,943 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Equity Residential by 5.6% in the first 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 buying an additional 1,101,027 shares in the last quarter. Invesco Ltd. raised its position in Equity Residential by 1.7% during the first quarter. Invesco Ltd. now owns 6,634,446 shares of the real estate investment trust's stock valued at $474,894,000 after purchasing an additional 112,004 shares in the last quarter. Resolution Capital Ltd raised its position in Equity Residential by 3.8% during the first quarter. Resolution Capital Ltd now owns 5,077,065 shares of the real estate investment trust's stock valued at $363,416,000 after purchasing an additional 185,876 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Equity Residential by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,696,175 shares of the real estate investment trust's stock valued at $336,152,000 after buying an additional 198,344 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on 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. Barclays decreased 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. Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Truist Financial cut their price objective on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.71.

Equity Residential Stock Down 0.9%

Shares of NYSE EQR traded down $0.57 during midday trading on Tuesday, reaching $64.71. 2,575,920 shares of the company's stock traded hands, compared to its average volume of 1,924,255. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.75. The stock's 50 day simple moving average is $65.42 and its 200-day simple moving average is $67.75. Equity Residential has a one year low of $59.41 and a one year high of $78.37. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.37 and a beta of 0.93.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The company had revenue of $768.83 million during the quarter, compared to analysts' expectations 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 for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. 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, analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be paid a dividend of $0.6925 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.3%. Equity Residential's payout ratio is currently 104.53%.

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.