Exchange Traded Concepts LLC Decreases Stock Holdings in Equity Residential (NYSE:EQR)

Exchange Traded Concepts LLC lowered its position in Equity Residential (NYSE:EQR) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,222 shares of the real estate investment trust’s stock after selling 322 shares during the period. Exchange Traded Concepts LLC’s holdings in Equity Residential were worth $538,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Equity Residential by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares in the last quarter. Principal Financial Group Inc. increased its position in Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after buying an additional 5,925,177 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Equity Residential by 1.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after buying an additional 60,000 shares in the last quarter. Boston Partners raised its stake in Equity Residential by 4.3% in the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after buying an additional 112,270 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Equity Residential by 20.7% in the second quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock worth $151,174,000 after acquiring an additional 373,229 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EQR shares. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler upped their target price on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a report on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus price target of $75.97.

Equity Residential Trading Up 1.0 %

Shares of Equity Residential stock opened at $75.63 on Friday. The firm has a 50-day simple moving average of $74.30 and a two-hundred day simple moving average of $69.28. 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 fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a market cap of $28.71 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, equities analysts predict that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 112.03%.

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.