Tidal Investments LLC Buys 11,765 Shares of Equity Residential (NYSE:EQR)

Tidal Investments LLC raised its stake in shares of Equity Residential (NYSE:EQR) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,023 shares of the real estate investment trust’s stock after acquiring an additional 11,765 shares during the quarter. Tidal Investments LLC’s holdings in Equity Residential were worth $10,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQR. SRS Capital Advisors Inc. lifted its holdings in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 156 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 288 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Equity Residential by 208.1% during the 4th quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 412 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Equity Residential during the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of EQR opened at $71.35 on Tuesday. The business’s 50-day moving average is $68.92 and its two-hundred day moving average is $70.86. The company has a market capitalization of $27.11 billion, a P/E ratio of 26.23, a P/E/G ratio of 3.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a return on equity of 9.27% and a net margin of 34.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Research analysts predict that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were given a dividend of $0.6925 per share. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Monday, March 31st. Equity Residential’s dividend payout ratio (DPR) is currently 105.73%.

Wall Street Analyst Weigh In

Several analysts have recently commented on EQR shares. Evercore ISI increased their price objective on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Royal Bank of Canada raised their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Scotiabank raised their target price on Equity Residential from $79.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company reduced their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.69.

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.