Atomi Financial Group Inc. Takes Position in Equity Residential (NYSE:EQR)

Atomi Financial Group Inc. bought a new stake in shares of Equity Residential (NYSE:EQR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,957 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Several other hedge funds also recently bought and sold shares of the business. State of Michigan Retirement System grew its position in Equity Residential by 0.8% in the 2nd quarter. State of Michigan Retirement System now owns 100,425 shares of the real estate investment trust’s stock valued at $6,963,000 after acquiring an additional 800 shares during the last quarter. Baillie Gifford & Co. grew its position in Equity Residential by 12.9% in the 2nd quarter. Baillie Gifford & Co. now owns 19,715 shares of the real estate investment trust’s stock valued at $1,367,000 after acquiring an additional 2,246 shares during the last quarter. Family Firm Inc. bought a new position in Equity Residential in the 2nd quarter valued at $71,000. Fifth Third Bancorp grew its position in Equity Residential by 7.9% in the 2nd quarter. Fifth Third Bancorp now owns 6,560 shares of the real estate investment trust’s stock valued at $455,000 after acquiring an additional 483 shares during the last quarter. Finally, Dakota Wealth Management grew its position in Equity Residential by 14.3% in the 2nd quarter. Dakota Wealth Management now owns 46,780 shares of the real estate investment trust’s stock valued at $3,244,000 after acquiring an additional 5,860 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Down 0.2 %

Shares of NYSE EQR opened at $74.04 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.23. The stock has a market capitalization of $28.10 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 4.06 and a beta of 0.87. Equity Residential has a 1-year low of $52.57 and a 1-year high of $74.46. The business has a fifty day moving average price of $69.97 and a 200 day moving average price of $65.75.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Equity Residential will post 3.88 EPS for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Monday, July 1st. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the sale, the chief financial officer now directly owns 14,576 shares in the company, valued at $1,006,910.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial upped their price objective on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho upped their target price on Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Piper Sandler upped their target price on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $69.00 to $77.00 in a report on Monday. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.16.

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.