QRG Capital Management Inc. Has $16.23 Million Stake in Equity Residential (NYSE:EQR)

QRG Capital Management Inc. lifted its position in shares of Equity Residential (NYSE:EQR - Free Report) by 32.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,760 shares of the real estate investment trust's stock after buying an additional 55,394 shares during the period. QRG Capital Management Inc. owned about 0.06% of Equity Residential worth $16,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Equity Residential in the fourth quarter valued at approximately $2,493,426,000. APG Asset Management US Inc. boosted its holdings in shares of Equity Residential by 0.5% during 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 acquiring an additional 57,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equity Residential by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 9,519,627 shares of the real estate investment trust's stock valued at $681,594,000 after acquiring an additional 165,683 shares in the last quarter. Principal Financial Group Inc. raised its position in Equity Residential by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust's stock worth $566,749,000 after purchasing an additional 152,248 shares during the last quarter. Finally, Invesco Ltd. raised its position in Equity Residential by 12.0% during the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock worth $468,050,000 after purchasing an additional 696,343 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on EQR shares. Wedbush reiterated a "neutral" rating and set a $75.00 price target on shares of Equity Residential in a research note on Wednesday, May 28th. Truist Financial upped their price target on shares of Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Mizuho reduced their price objective on 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 lowered their price objective on shares of Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Finally, Stifel Nicolaus lowered their target price on shares of Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.25.

Equity Residential Price Performance

Shares of EQR traded up $0.07 during trading hours on Wednesday, reaching $68.80. The company had a trading volume of 1,479,884 shares, compared to its average volume of 1,719,916. The firm has a 50 day simple moving average of $69.09 and a 200-day simple moving average of $70.12. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 4.01 and a beta of 0.90. Equity Residential has a 12-month low of $59.41 and a 12-month high of $78.84.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The firm had revenue of $760.81 million during the quarter, compared to the consensus estimate of $769.43 million. During the same period last year, the firm posted $0.93 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 24th will be paid a $0.6925 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.03%. Equity Residential's dividend payout ratio (DPR) is presently 105.73%.

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.