Equity Residential (NYSE:EQR) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Equity Residential (NYSE:EQR) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,177 shares of the real estate investment trust’s stock after selling 1,593 shares during the period. Victory Capital Management Inc.’s holdings in Equity Residential were worth $7,709,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in Equity Residential in the first quarter worth about $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Equity Residential in the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Equity Residential during the first quarter valued at approximately $41,000. Finally, Principal Securities Inc. acquired a new position in Equity Residential in the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Trading Up 0.9 %

NYSE:EQR opened at $78.08 on Monday. The company has a market capitalization of $29.60 billion, a P/E ratio of 32.40, a P/E/G ratio of 4.27 and a beta of 0.89. The stock’s 50 day moving average price is $71.78 and its 200 day moving average price is $67.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.11.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter last year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a dividend of $0.675 per share. The ex-dividend date was Monday, July 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.46%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Insider Activity

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EQR. BNP Paribas began coverage on Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective for the company. Piper Sandler lifted their price target on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial raised their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Equity Residential from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.62.

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.