Dorsey & Whitney Trust CO LLC Acquires Shares of 2,899 Equity Residential (NYSE:EQR)

Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Equity Residential (NYSE:EQR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,899 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. purchased a new stake in Equity Residential during the 2nd quarter valued at approximately $57,000. Choreo LLC purchased a new stake in Equity Residential during the 2nd quarter valued at approximately $265,000. Quest Partners LLC raised its stake in shares of Equity Residential by 244,571.4% during the 2nd quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock worth $1,188,000 after buying an additional 17,120 shares in the last quarter. TAP Consulting LLC raised its stake in shares of Equity Residential by 5.8% during the 2nd quarter. TAP Consulting LLC now owns 58,725 shares of the real estate investment trust’s stock worth $4,072,000 after buying an additional 3,208 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Equity Residential by 1,279.0% during the 2nd quarter. Acadian Asset Management LLC now owns 48,210 shares of the real estate investment trust’s stock worth $3,339,000 after buying an additional 44,714 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EQR shares. Truist Financial increased 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. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Evercore ISI increased their target price on Equity Residential from $74.00 to $75.00 and gave the stock an “in-line” rating in a research note on Monday. Mizuho increased their target price on Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Finally, Piper Sandler increased their target price on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $74.62.

Insider Activity

In related news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction dated 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 transaction, the chief financial officer now directly owns 14,576 shares in the company, valued at $1,006,910.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Equity Residential Trading Up 0.9 %

NYSE:EQR opened at $77.40 on Friday. The business’s 50-day moving average is $71.57 and its two-hundred day moving average is $66.91. 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 has a 12 month low of $52.57 and a 12 month high of $77.46. The firm has a market capitalization of $29.38 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 4.14 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 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 company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period last year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts predict that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a dividend of $0.675 per share. The ex-dividend date was Monday, July 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.49%. Equity Residential’s dividend payout ratio is presently 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.