S&G Foundation Buys New Position in Equity Residential $EQR

S&G Foundation purchased a new position in Equity Residential (NYSE:EQR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,200,000 shares of the real estate investment trust’s stock, valued at approximately $81,516,000. Equity Residential accounts for about 3.8% of S&G Foundation’s portfolio, making the stock its 7th biggest position.

Several other large investors have also added to or reduced their stakes in EQR. Norges Bank purchased a new position in Equity Residential during the 4th quarter valued at $2,201,674,000. Cohen & Steers Inc. lifted its position in shares of Equity Residential by 227.7% in the 4th quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust’s stock worth $466,869,000 after purchasing an additional 5,145,442 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Equity Residential by 876.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,500,885 shares of the real estate investment trust’s stock worth $291,342,000 after purchasing an additional 4,039,752 shares during the period. Wellington Management Group LLP lifted its position in shares of Equity Residential by 797.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,085,406 shares of the real estate investment trust’s stock worth $134,988,000 after purchasing an additional 1,852,970 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Equity Residential by 353.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,002,892 shares of the real estate investment trust’s stock valued at $129,647,000 after purchasing an additional 1,561,241 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The firm’s 50 day simple moving average is $67.09 and its two-hundred day simple moving average is $64.57. The company has a market cap of $23.88 billion, a PE ratio of 27.69, a PEG ratio of 5.53 and a beta of 0.73. Equity Residential has a fifty-two week low of $57.57 and a fifty-two week high of $71.50.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Equity Residential had a net margin of 27.97% and a return on equity of 8.06%. The business had revenue of $785.05 million for the quarter, compared to analysts’ expectations of $787.28 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Equity Residential will post 4.08 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were issued a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 29th. Equity Residential’s dividend payout ratio is presently 122.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EQR shares. Evercore boosted their price target on shares of Equity Residential from $70.00 to $71.00 in a research report on Monday, June 8th. Truist Financial raised their price objective on shares of Equity Residential from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Wolfe Research raised Equity Residential from a “hold” rating to an “outperform” rating in a research report on Monday, June 1st. Bank of America upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, May 27th. Finally, Scotiabank increased their target price on Equity Residential from $67.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.40.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.