Summit Place Financial Advisors LLC Acquires 13,035 Shares of Equity Residential (NYSE:EQR)

Summit Place Financial Advisors LLC grew its stake in Equity Residential (NYSE:EQR) by 217.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 19,035 shares of the real estate investment trust’s stock after purchasing an additional 13,035 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Equity Residential were worth $1,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Park Avenue Securities LLC grew its stake in Equity Residential by 34.5% in the first quarter. Park Avenue Securities LLC now owns 6,106 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 1,566 shares in the last quarter. LVW Advisors LLC increased its holdings in Equity Residential by 67.7% during the first quarter. LVW Advisors LLC now owns 6,156 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 2,486 shares during the last quarter. Diversified Trust Co acquired a new position in Equity Residential during the first quarter worth $738,000. Naviter Wealth LLC raised its position in Equity Residential by 25.7% during the first quarter. Naviter Wealth LLC now owns 22,473 shares of the real estate investment trust’s stock worth $1,433,000 after acquiring an additional 4,601 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in Equity Residential in the first quarter valued at $414,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EQR shares. UBS Group boosted their price objective on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group assumed coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective for the company. Royal Bank of Canada increased their target price on Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial upped their price objective on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Trading Down 1.8 %

Shares of EQR stock opened at $74.67 on Monday. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83. The stock’s fifty day simple moving average is $74.68 and its 200 day simple moving average is $69.76. 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 firm has a market capitalization of $28.34 billion, a P/E ratio of 30.98, a P/E/G ratio of 6.17 and a beta of 0.89.

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

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.62%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

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.