Sanctuary Advisors LLC Invests $796,000 in Equity Residential (NYSE:EQR)

Sanctuary Advisors LLC bought a new position in shares of Equity Residential (NYSE:EQR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,218 shares of the real estate investment trust’s stock, valued at approximately $796,000.

A number of other institutional investors have also made changes to their positions in the company. Coronation Fund Managers Ltd. lifted its position in shares of Equity Residential by 12.3% during the second quarter. Coronation Fund Managers Ltd. now owns 146,775 shares of the real estate investment trust’s stock worth $10,177,000 after purchasing an additional 16,063 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Equity Residential by 3.0% during the second quarter. Cetera Investment Advisers now owns 46,353 shares of the real estate investment trust’s stock worth $3,214,000 after purchasing an additional 1,344 shares in the last quarter. Truist Financial Corp lifted its position in shares of Equity Residential by 2.3% during the second quarter. Truist Financial Corp now owns 12,768 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 289 shares in the last quarter. Chase Investment Counsel Corp acquired a new position in shares of Equity Residential during the second quarter worth $341,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 200 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQR. The Goldman Sachs Group began coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. BNP Paribas assumed coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for 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 note on Thursday, August 29th. 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 research report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.97.

Equity Residential Stock Performance

EQR stock opened at $73.09 on Friday. 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 stock has a market capitalization of $27.74 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 6.05 and a beta of 0.89. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83. The stock’s fifty day moving average is $73.89 and its two-hundred day moving average is $68.84.

Equity Residential (NYSE:EQR) last posted its 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 company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts predict that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s payout ratio is 112.03%.

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.