Northern Trust Corp Cuts Position in Equity Residential $EQR

Key Points

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Northern Trust Corp lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,012,999 shares of the real estate investment trust's stock after selling 463,005 shares during the period. Northern Trust Corp owned approximately 1.58% of Equity Residential worth $430,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQR. Nuveen LLC acquired a new position in shares of Equity Residential during the 1st quarter worth $165,442,000. Adelante Capital Management LLC lifted its position in shares of Equity Residential by 172.1% during the 4th quarter. Adelante Capital Management LLC now owns 1,077,337 shares of the real estate investment trust's stock valued at $77,310,000 after acquiring an additional 681,356 shares during the period. GAMMA Investing LLC boosted its stake in shares of Equity Residential by 7,177.2% during the 1st quarter. GAMMA Investing LLC now owns 506,930 shares of the real estate investment trust's stock worth $36,286,000 after acquiring an additional 499,964 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Equity Residential by 190.9% in the 1st quarter. National Bank of Canada FI now owns 674,373 shares of the real estate investment trust's stock worth $48,272,000 after acquiring an additional 442,584 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Equity Residential in the 4th quarter valued at approximately $27,584,000. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Trading Up 1.4%

NYSE EQR traded up $0.9010 during mid-day trading on Friday, reaching $65.1710. 1,486,806 shares of the stock were exchanged, compared to its average volume of 2,396,367. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.83. The stock has a market capitalization of $24.89 billion, a PE ratio of 24.59, a PEG ratio of 3.31 and a beta of 0.92. The business's fifty day simple moving average is $66.04 and its 200 day simple moving average is $68.47. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17.

Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The business had revenue of $768.83 million for the quarter, compared to analysts' expectations of $770.60 million. During the same quarter last year, the firm earned $0.97 earnings per share. The business's revenue 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. On average, research analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on EQR. Mizuho lowered their target price on Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Evercore ISI cut their target price on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Barclays reduced their price target on shares of Equity Residential from $83.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley dropped their price objective on shares of Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Finally, UBS Group reduced their target price on Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.78.

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.