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Vanguard Group Inc. Grows Stake in Equity Residential (NYSE:EQR)

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Key Points

  • Vanguard Group Inc. increased its stake in Equity Residential by 0.4%, acquiring an additional 199,943 shares, which brings its ownership to approximately 14.74% valued at $4 billion.
  • Equity Residential reported quarterly earnings of $0.99 per share, meeting estimates, with revenue of $768.83 million, reflecting a 4.7% year-over-year increase.
  • The company announced a quarterly dividend of $0.6925 per share, translating to an annualized yield of 4.3%, with the dividend payout ratio currently at 105.73%.
  • Looking to Export and Analyze Equity Residential Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Vanguard Group Inc. lifted its position in shares of Equity Residential (NYSE:EQR - Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,000,934 shares of the real estate investment trust's stock after purchasing an additional 199,943 shares during the quarter. Vanguard Group Inc. owned approximately 14.74% of Equity Residential worth $4,008,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. New Age Alpha Advisors LLC grew its stake in Equity Residential by 23.7% in the first quarter. New Age Alpha Advisors LLC now owns 104,413 shares of the real estate investment trust's stock valued at $7,474,000 after acquiring an additional 19,995 shares during the period. Probity Advisors Inc. increased its stake in Equity Residential by 10.2% during the 1st quarter. Probity Advisors Inc. now owns 8,341 shares of the real estate investment trust's stock worth $597,000 after acquiring an additional 771 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Equity Residential by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 54,271 shares of the real estate investment trust's stock valued at $3,885,000 after purchasing an additional 4,499 shares during the last quarter. US Bancorp DE grew its position in Equity Residential by 2.5% during the 1st quarter. US Bancorp DE now owns 32,221 shares of the real estate investment trust's stock worth $2,306,000 after acquiring an additional 788 shares during the last quarter. Finally, Modera Wealth Management LLC lifted its holdings in Equity Residential by 7.2% during the 1st quarter. Modera Wealth Management LLC now owns 3,548 shares of the real estate investment trust's stock worth $254,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho dropped their price target 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 reduced their price objective on 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. Royal Bank Of Canada raised their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group reduced their price target on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the stock a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Equity Residential has a consensus rating of "Hold" and a consensus target price of $78.43.

Get Our Latest Report on Equity Residential

Equity Residential Stock Down 1.1%

NYSE:EQR traded down $0.70 on Friday, hitting $63.19. The stock had a trading volume of 1,337,577 shares, compared to its average volume of 2,193,361. The business's fifty day moving average is $67.13 and its 200 day moving average is $68.89. The company has a market cap of $24.13 billion, a PE ratio of 23.85, a P/E/G ratio of 3.25 and a beta of 0.92. The company has a quick ratio of 0.20, a current ratio of 0.17 and a debt-to-equity ratio of 0.75. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly 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. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%. The company had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. During the same period last year, the business posted $0.97 earnings per share. Equity Residential's revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th were issued a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, June 24th. Equity Residential's dividend payout ratio is presently 104.53%.

About Equity Residential

(Free Report)

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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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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