Elo Mutual Pension Insurance Co Increases Stock Position in Equity Residential (NYSE:EQR)

Elo Mutual Pension Insurance Co grew its stake in Equity Residential (NYSE:EQR) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 33,399 shares of the real estate investment trust’s stock after acquiring an additional 588 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Equity Residential were worth $2,316,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after acquiring an additional 381,236 shares in the last quarter. APG Asset Management US Inc. grew its stake in Equity Residential by 0.6% during the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock worth $709,349,000 after purchasing an additional 71,716 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock worth $496,040,000 after purchasing an additional 5,925,177 shares during the period. Centersquare Investment Management LLC boosted its stake in shares of Equity Residential by 5.9% in the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after buying an additional 309,796 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Equity Residential by 0.7% during the first quarter. Canada Pension Plan Investment Board now owns 4,941,360 shares of the real estate investment trust’s stock worth $311,849,000 after buying an additional 34,000 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQR. Scotiabank raised their price objective on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Monday. UBS Group increased their target price on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Wedbush lifted their price target on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Royal Bank of Canada increased their price objective on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Truist Financial boosted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus price target of $75.62.

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Stock Down 0.0 %

Shares of Equity Residential stock opened at $77.06 on Friday. Equity Residential has a one year low of $52.57 and a one year high of $78.83. The company has a market cap of $29.25 billion, a P/E ratio of 31.98, a PEG ratio of 4.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The firm has a fifty day moving average of $72.53 and a two-hundred day moving average of $67.52.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts forecast that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

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. The ex-dividend date is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.50%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Equity Residential Company 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.