Equity Residential (NYSE:EQR) Stake Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its holdings in Equity Residential (NYSE:EQR) by 20.6% in the 3rd quarter, Holdings Channel reports. The fund owned 166,027 shares of the real estate investment trust’s stock after selling 43,097 shares during the period. Nisa Investment Advisors LLC’s holdings in Equity Residential were worth $12,485,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of Equity Residential by 36.6% during the 1st quarter. BNP Paribas Financial Markets now owns 569,829 shares of the real estate investment trust’s stock worth $35,962,000 after purchasing an additional 152,736 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Equity Residential by 200.9% during the 1st quarter. QRG Capital Management Inc. now owns 77,019 shares of the real estate investment trust’s stock worth $4,861,000 after purchasing an additional 51,423 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Equity Residential in the 2nd quarter valued at approximately $3,893,000. Finally, Entropy Technologies LP bought a new position in shares of Equity Residential in the 1st quarter valued at approximately $1,672,000. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Price Performance

Shares of EQR stock opened at $73.95 on Thursday. The stock’s fifty day simple moving average is $74.83 and its 200 day simple moving average is $69.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 6.17 and a beta of 0.89. Equity Residential has a one year low of $52.57 and a one year high of $78.83.

Equity Residential (NYSE:EQR) last announced 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 company 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%. Equity Residential’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, analysts expect that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.65%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is 112.03%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EQR shares. JPMorgan Chase & Co. raised their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. BNP Paribas started coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Piper Sandler raised their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI raised their price objective on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus price target of $75.97.

About Equity Residential

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.