Equity Residential (NYSE:EQR) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its position in Equity Residential (NYSE:EQR) by 47.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,035 shares of the real estate investment trust’s stock after purchasing an additional 34,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Equity Residential were worth $7,422,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $49,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Equity Residential in the 4th quarter valued at $208,000. UBS Group AG boosted its stake in Equity Residential by 0.9% during 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 during the period. Coldstream Capital Management Inc. purchased a new position in Equity Residential during the 4th quarter worth $212,000. Finally, Wells Fargo & Company MN increased its stake in Equity Residential by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 270,089 shares of the real estate investment trust’s stock valued at $16,519,000 after purchasing an additional 6,026 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQR has been the subject of several recent research reports. Truist Financial increased their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Evercore ISI lifted their target price on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Wedbush increased 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. Finally, Piper Sandler boosted their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.62.

Equity Residential Trading Down 0.6 %

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

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share 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 analyst estimates of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. On average, 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 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 annualized dividend and a dividend yield of 3.53%. Equity Residential’s dividend payout ratio is presently 112.03%.

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.