abrdn plc Raises Stock Holdings in Equity Residential (NYSE:EQR)

abrdn plc grew its stake in Equity Residential (NYSE:EQR) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,597 shares of the real estate investment trust’s stock after buying an additional 2,973 shares during the quarter. abrdn plc owned approximately 0.06% of Equity Residential worth $17,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new stake in Equity Residential in the third quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new stake in Equity Residential in the first quarter worth about $27,000. UMB Bank n.a. boosted its stake in shares of Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 195 shares during the period. Massmutual Trust Co. FSB ADV boosted 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. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Down 4.8 %

Equity Residential stock opened at $70.41 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 6.17 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 business has a fifty day moving average price of $74.78 and a 200-day moving average price of $69.96.

Equity Residential (NYSE:EQR) last issued 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 return on equity of 8.53% and a net margin of 32.83%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same period in the prior year, the firm posted $0.94 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.83%. Equity Residential’s payout ratio is currently 110.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EQR shares. Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price objective on Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI upped their price objective on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. BNP Paribas assumed coverage on Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target for the company. Finally, Truist Financial increased their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.