SteelPeak Wealth LLC Makes New $2.58 Million Investment in Equity Residential (NYSE:EQR)

SteelPeak Wealth LLC purchased a new position in shares of Equity Residential (NYSE:EQR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,698 shares of the real estate investment trust's stock, valued at approximately $2,580,000.

Several other large investors have also modified their holdings of EQR. Versant Capital Management Inc grew its holdings in Equity Residential by 51.6% during the first quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 157 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock worth $40,000 after buying an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Equity Residential in the 4th quarter worth about $51,000. MassMutual Private Wealth & Trust FSB boosted its stake in Equity Residential by 27.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after buying an additional 160 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in Equity Residential by 38.8% in the 4th quarter. Continuum Advisory LLC now owns 765 shares of the real estate investment trust's stock worth $55,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Down 1.3%

NYSE EQR traded down $0.89 during trading on Tuesday, reaching $66.13. 1,293,943 shares of the company's stock were exchanged, compared to its average volume of 1,764,618. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84. The firm has a market capitalization of $25.13 billion, a PE ratio of 25.24, a P/E/G ratio of 3.45 and a beta of 0.88. 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's fifty day simple moving average is $68.67 and its 200-day simple moving average is $69.39.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. The firm had revenue of $760.81 million during the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. Sell-side analysts predict that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.19%. Equity Residential's dividend payout ratio is 105.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank cut their price objective on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Evercore ISI upgraded Equity Residential from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $74.00 to $75.00 in a report on Monday, July 7th. UBS Group lowered their price objective on Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday. Mizuho decreased their price target on Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Wedbush reissued a "neutral" rating and issued a $75.00 price target 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 nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.81.

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.