AQR Capital Management LLC Has $4.20 Million Stake in Equity Residential (NYSE:EQR)

AQR Capital Management LLC increased its position in shares of Equity Residential (NYSE:EQR) by 101.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,857 shares of the real estate investment trust’s stock after purchasing an additional 30,587 shares during the period. AQR Capital Management LLC’s holdings in Equity Residential were worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Equity Residential during the second quarter worth $1,236,000. Cubist Systematic Strategies LLC bought a new position in Equity Residential during the second quarter worth about $803,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Equity Residential by 51.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,344 shares of the real estate investment trust’s stock worth $4,531,000 after purchasing an additional 22,275 shares in the last quarter. Land & Buildings Investment Management LLC bought a new stake in Equity Residential in the 2nd quarter valued at about $18,328,000. Finally, Bank of Montreal Can grew its position in shares of Equity Residential by 1.1% during the 2nd quarter. Bank of Montreal Can now owns 418,570 shares of the real estate investment trust’s stock worth $29,040,000 after purchasing an additional 4,699 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EQR shares. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Wedbush increased their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective for the company. Finally, Scotiabank raised their target price on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.97.

Equity Residential Trading Up 0.3 %

NYSE EQR opened at $73.53 on Friday. The company has a market cap of $27.91 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 5.60 and a beta of 0.89. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83. 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 fifty day moving average is $73.64 and its 200 day moving average is $68.48.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results 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). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

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