Equity Residential (NYSE:EQR) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY lifted its holdings in shares of Equity Residential (NYSE:EQR) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,215 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Spirit of America Management Corp NY’s holdings in Equity Residential were worth $2,324,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Dakota Wealth Management boosted its stake in shares of Equity Residential by 20.0% during the third quarter. Dakota Wealth Management now owns 56,113 shares of the real estate investment trust’s stock worth $4,182,000 after buying an additional 9,333 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Equity Residential during the third quarter worth about $114,000. Assenagon Asset Management S.A. boosted its stake in shares of Equity Residential by 115.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,678 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 3,585 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Equity Residential during the third quarter worth about $2,233,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Equity Residential by 6.0% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 59,495 shares of the real estate investment trust’s stock worth $4,430,000 after buying an additional 3,347 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQR. Wells Fargo & Company downgraded shares of 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. Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Royal Bank of Canada increased their price target on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Evercore ISI increased their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Up 0.3 %

EQR stock opened at $76.06 on Friday. The company’s 50 day simple moving average is $74.52 and its 200-day simple moving average is $69.55. The firm has a market capitalization of $28.87 billion, a PE ratio of 31.56, a P/E/G ratio of 6.05 and a beta of 0.89. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. 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 released its quarterly earnings results 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). The business had revenue of $734.20 million during the quarter, compared to analyst estimates 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 for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities analysts expect that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.55%. Equity Residential’s dividend payout ratio is presently 112.03%.

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.