Equity Residential (NYSE:EQR) Shares Purchased by Truist Financial Corp

Truist Financial Corp grew its position in shares of Equity Residential (NYSE:EQR) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,768 shares of the real estate investment trust’s stock after purchasing an additional 289 shares during the quarter. Truist Financial Corp’s holdings in Equity Residential were worth $885,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQR. Checchi Capital Advisers LLC boosted its holdings in Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings 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 acquiring an additional 155 shares during the last quarter. Mystic Asset Management Inc. raised its position in shares of Equity Residential by 3.8% during the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in shares of Equity Residential by 12.4% in the 2nd quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 201 shares during the period. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

NYSE EQR opened at $73.67 on Tuesday. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The stock’s 50-day moving average is $73.98 and its two-hundred day moving average is $68.96. The firm has a market cap of $27.96 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data 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 company 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%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. On average, analysts anticipate that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.66%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQR. Wedbush upped their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. UBS Group raised 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. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Truist Financial raised their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, BNP Paribas initiated coverage on Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.97.

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.