Squarepoint Ops LLC Has $1.19 Million Stake in Equity Residential (NYSE:EQR)

Squarepoint Ops LLC reduced its stake in shares of Equity Residential (NYSE:EQR) by 62.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,086 shares of the real estate investment trust’s stock after selling 27,907 shares during the period. Squarepoint Ops LLC’s holdings in Equity Residential were worth $1,185,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in Equity Residential during the first quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Equity Residential in the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Equity Residential by 41.9% in 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 last quarter. HHM Wealth Advisors LLC grew its holdings 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 valued at $38,000 after acquiring an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Equity Residential during the first quarter valued at approximately $41,000. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Stock Up 0.3 %

Shares of NYSE EQR opened at $73.53 on Friday. 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 company has a market cap of $27.91 billion, a P/E ratio of 30.51, a P/E/G ratio of 5.60 and a beta of 0.89. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The business has a 50-day simple moving average of $73.64 and a two-hundred day simple moving average of $68.48.

Equity Residential (NYSE:EQR) last released its quarterly earnings data 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). The firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. Equity Residential’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Research analysts anticipate that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be given a $0.675 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.67%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Analyst Ratings Changes

EQR has been the subject of a number of recent analyst reports. Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and upped their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Truist Financial increased 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. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, BNP Paribas assumed coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.97.

About Equity Residential

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.