Equity Residential $EQR Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equity Residential (NYSE:EQR) by 5,893.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,335,122 shares of the real estate investment trust’s stock after acquiring an additional 4,262,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.16% of Equity Residential worth $294,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Fulcrum Asset Management LLP acquired a new stake in Equity Residential during the 3rd quarter worth $27,000. Zions Bancorporation National Association UT increased its stake in Equity Residential by 375.2% in the fourth quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 379 shares during the period. DV Equities LLC acquired a new position in Equity Residential in the fourth quarter valued at $30,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equity Residential in the third quarter valued at about $31,000. Finally, Leonteq Securities AG raised its holdings in shares of Equity Residential by 48.8% in the first quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $63.68 on Tuesday. The firm has a 50 day moving average of $66.94 and a 200-day moving average of $64.60. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 5.53 and a beta of 0.73. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. Equity Residential has a 12-month low of $57.57 and a 12-month high of $71.50.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $785.05 million for the quarter, compared to analysts’ expectations of $787.28 million. Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, equities analysts expect that Equity Residential will post 4.08 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were paid a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential’s payout ratio is 122.17%.

Analyst Upgrades and Downgrades

EQR has been the topic of several analyst reports. Wolfe Research upgraded Equity Residential from a “hold” rating to an “outperform” rating in a research note on Monday, June 1st. Jefferies Financial Group upgraded Equity Residential to a “hold” rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald increased their price target on Equity Residential from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. BMO Capital Markets lifted their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, June 8th. Finally, Truist Financial boosted their price objective on shares of Equity Residential from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and an average price target of $71.40.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.