Vanguard Personalized Indexing Management LLC Has $1.82 Million Stake in Equity Residential (NYSE:EQR)

Vanguard Personalized Indexing Management LLC lifted its position in shares of Equity Residential (NYSE:EQR) by 41.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,185 shares of the real estate investment trust’s stock after purchasing an additional 7,669 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Equity Residential were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in Equity Residential during the 4th quarter worth $49,000. Envestnet Portfolio Solutions Inc. bought a new position in Equity Residential during the fourth quarter worth about $208,000. UBS Group AG raised its stake in Equity Residential by 0.9% in the 4th quarter. UBS Group AG now owns 887,030 shares of the real estate investment trust’s stock worth $54,251,000 after purchasing an additional 8,202 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Equity Residential in the 4th quarter valued at about $212,000. Finally, Wells Fargo & Company MN grew its position in shares of Equity Residential by 2.3% during the 4th quarter. Wells Fargo & Company MN now owns 270,089 shares of the real estate investment trust’s stock worth $16,519,000 after purchasing an additional 6,026 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQR has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wedbush upped their target price on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Mizuho upped their price objective on shares of Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, Piper Sandler raised their target price on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $75.62.

Insider Activity

In related news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $69.08, for a total transaction of $439,141.56. Following the sale, the chief financial officer now directly owns 14,576 shares in the company, valued at approximately $1,006,910.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $76.58 on Friday. The company’s 50 day moving average price is $72.72 and its two-hundred day moving average price is $67.65. The firm has a market capitalization of $29.07 billion, a P/E ratio of 31.78, a P/E/G ratio of 4.27 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21.

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 for the quarter, missing the consensus estimate of $0.96 by ($0.49). The firm had revenue of $734.20 million for 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 company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. On average, equities analysts forecast that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

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.