Paralel Advisors LLC Takes $1.13 Million Position in Equity Residential (NYSE:EQR)

Paralel Advisors LLC bought a new position in shares of Equity Residential (NYSE:EQRFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,487 shares of the real estate investment trust’s stock, valued at approximately $1,131,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its holdings in Equity Residential by 6.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,424,367 shares of the real estate investment trust’s stock worth $87,193,000 after acquiring an additional 87,891 shares in the last quarter. Davis Asset Management L.P. purchased a new position in shares of Equity Residential in the 4th quarter valued at approximately $61,160,000. Nomura Asset Management Co. Ltd. boosted its stake in Equity Residential by 2.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 486,014 shares of the real estate investment trust’s stock worth $29,725,000 after purchasing an additional 13,072 shares in the last quarter. TCW Group Inc. boosted its stake in Equity Residential by 10.0% in the 4th quarter. TCW Group Inc. now owns 70,542 shares of the real estate investment trust’s stock worth $4,322,000 after purchasing an additional 6,397 shares in the last quarter. Finally, Commerce Bank grew its position in Equity Residential by 52.7% during the 4th quarter. Commerce Bank now owns 19,299 shares of the real estate investment trust’s stock worth $1,180,000 after purchasing an additional 6,657 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equity Residential

In related news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the sale, the executive vice president now directly owns 69,901 shares in the company, valued at approximately $4,544,264.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the transaction, the director now directly owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on EQR shares. Barclays decreased their price target on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Piper Sandler lifted their price target on Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. UBS Group increased their price objective on Equity Residential from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Equity Residential in a report on Thursday, February 22nd. Finally, Raymond James upgraded shares of Equity Residential from an “underperform” rating to a “market perform” rating in a report on Monday, March 18th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.22.

Check Out Our Latest Report on EQR

Equity Residential Price Performance

Shares of Equity Residential stock traded up $0.32 on Monday, hitting $65.70. The company’s stock had a trading volume of 1,427,900 shares, compared to its average volume of 2,020,865. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 3.77 and a beta of 0.82. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a fifty day moving average price of $63.98 and a 200-day moving average price of $61.29.

Equity Residential (NYSE:EQRGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. Equity Residential’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Equity Residential will post 3.88 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, March 22nd. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a yield of 4.11%. Equity Residential’s dividend payout ratio is currently 112.03%.

About Equity Residential

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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