Equity Residential (NYSE:EQR) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in shares of Equity Residential (NYSE:EQR) by 565.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,696 shares of the real estate investment trust’s stock after purchasing an additional 21,834 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Equity Residential were worth $1,782,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new position in shares of Equity Residential during the 2nd quarter valued at $116,000. American Century Companies Inc. increased its position in shares of Equity Residential by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock valued at $151,174,000 after purchasing an additional 373,229 shares during the period. HHM Wealth Advisors LLC increased its position in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Equity Residential by 7.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 173,470 shares of the real estate investment trust’s stock valued at $11,911,000 after purchasing an additional 11,650 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Equity Residential during the 2nd quarter valued at $201,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

Shares of EQR opened at $77.32 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The firm has a market cap of $29.35 billion, a PE ratio of 32.08, a PEG ratio of 4.27 and a beta of 0.89. The firm’s 50 day moving average price is $72.16 and its 200 day moving average price is $67.39. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83.

Equity Residential (NYSE:EQR) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. As a group, research analysts expect that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s payout ratio is 112.03%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EQR shares. Scotiabank lifted their target price on Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Monday. Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. BNP Paribas started coverage on Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price on the stock. Mizuho lifted 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. Finally, Piper Sandler lifted 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. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.62.

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the 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 transaction, the chief financial officer now owns 14,576 shares in the company, valued at $1,006,910.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.