APG Asset Management US Inc. Has $788.26 Million Stock Holdings in Equity Residential (NYSE:EQR)

APG Asset Management US Inc. reduced its position in shares of Equity Residential (NYSE:EQR) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,568,251 shares of the real estate investment trust’s stock after selling 30,000 shares during the quarter. Equity Residential comprises 4.5% of APG Asset Management US Inc.’s holdings, making the stock its 5th biggest position. APG Asset Management US Inc. owned 3.05% of Equity Residential worth $788,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQR. Fidelis Capital Partners LLC bought a new stake in Equity Residential during the 1st quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Equity Residential during the 4th quarter worth about $33,000. Massmutual Trust Co. FSB ADV grew its position in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares during the period. HHM Wealth Advisors LLC grew its position in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in shares of Equity Residential during the 1st quarter worth about $41,000. 92.68% of the stock is owned by institutional investors.

Equity Residential Trading Down 0.1 %

Shares of Equity Residential stock opened at $75.20 on Thursday. Equity Residential has a 12-month low of $52.57 and a 12-month high of $78.83. The stock has a market cap of $28.54 billion, a P/E ratio of 31.20, a P/E/G ratio of 5.60 and a beta of 0.89. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $73.03 and its 200-day moving average is $67.87.

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

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Analyst Ratings Changes

Several research firms have recently issued reports on EQR. Piper Sandler boosted 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. The Goldman Sachs Group assumed coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wedbush boosted their price objective on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price objective on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus price target of $75.97.

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.