DekaBank Deutsche Girozentrale Reduces Position in Equity Residential (NYSE:EQR)

DekaBank Deutsche Girozentrale lowered its stake in Equity Residential (NYSE:EQR) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,975 shares of the real estate investment trust’s stock after selling 674 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Equity Residential were worth $11,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tobam increased its holdings in Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 152 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Equity Residential by 4.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 153 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. raised its holdings in shares of Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the last quarter. Finally, Mystic Asset Management Inc. lifted its position in Equity Residential by 3.8% during the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 200 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Stock Performance

Shares of NYSE:EQR opened at $73.95 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83. The firm has a market capitalization of $28.07 billion, a PE ratio of 30.68, a P/E/G ratio of 6.17 and a beta of 0.89. The business’s 50 day moving average price is $74.83 and its 200-day moving average price is $69.96.

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

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. Equity Residential’s payout ratio is presently 112.03%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQR. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. The Goldman Sachs Group began coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price on the stock. Truist Financial boosted their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, Scotiabank increased their price target on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.97.

Equity Residential Company 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.