Westpac Banking Corp Has $1.63 Million Stock Position in Equity Residential (NYSE:EQR)

Westpac Banking Corp grew its holdings in Equity Residential (NYSE:EQRFree Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,695 shares of the real estate investment trust’s stock after acquiring an additional 853 shares during the quarter. Westpac Banking Corp’s holdings in Equity Residential were worth $1,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Equity Residential by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after purchasing an additional 372,181 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Equity Residential by 1.8% during the third quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust’s stock worth $320,386,000 after buying an additional 94,511 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Equity Residential by 13.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust’s stock worth $305,659,000 after purchasing an additional 629,813 shares in the last quarter. FMR LLC raised its holdings in Equity Residential by 68.5% in the 3rd quarter. FMR LLC now owns 4,416,565 shares of the real estate investment trust’s stock valued at $259,297,000 after buying an additional 1,795,772 shares during the last quarter. Finally, Morgan Stanley increased its position in Equity Residential by 5.2% in the 3rd quarter. Morgan Stanley now owns 4,136,866 shares of the real estate investment trust’s stock valued at $242,876,000 after acquiring an additional 203,470 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Stock Performance

Equity Residential stock traded up $0.14 during trading on Wednesday, hitting $67.53. The stock had a trading volume of 467,514 shares, compared to its average volume of 2,051,503. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. The stock has a market cap of $25.63 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.54 and a beta of 0.82. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The stock’s 50 day moving average is $63.32 and its two-hundred day moving average is $60.53.

Equity Residential (NYSE:EQRGet Free Report) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $730.80 million during the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts predict that Equity Residential will post 3.87 EPS for the current year.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 4.00%. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s payout ratio is presently 112.03%.

Analysts Set New Price Targets

EQR has been the topic of several analyst reports. Barclays reduced their price objective on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. BMO Capital Markets upgraded Equity Residential from a “market perform” rating to an “outperform” rating and upped their target price for the company from $68.00 to $70.00 in a report on Monday, April 22nd. Evercore ISI cut shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price target on the stock. in a research report on Monday. Truist Financial dropped their price objective on Equity Residential from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised their price target on shares of Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.22.

Check Out Our Latest Stock Report on Equity Residential

Insiders Place Their Bets

In related news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total value of $261,795.27. Following the transaction, the executive vice president now directly owns 69,901 shares in the company, valued at $4,544,264.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Alexander Brackenridge sold 4,027 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the transaction, the executive vice president now directly owns 69,901 shares in the company, valued at approximately $4,544,264.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the sale, the director now owns 9,720 shares of the company’s stock, valued at $636,465.60. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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