CVA Family Office LLC lowered its holdings in Equity Residential (NYSE:EQR – Get Rating) by 33.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375 shares of the real estate investment trust's stock after selling 185 shares during the period. CVA Family Office LLC's holdings in Equity Residential were worth $27,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Equity Residential in the 1st quarter worth approximately $40,000. DAVENPORT & Co LLC increased its position in shares of Equity Residential by 11.2% in the first quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust's stock worth $258,000 after acquiring an additional 289 shares in the last quarter. Versor Investments LP increased its position in shares of Equity Residential by 26.9% in the first quarter. Versor Investments LP now owns 10,834 shares of the real estate investment trust's stock worth $974,000 after acquiring an additional 2,294 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Equity Residential in the first quarter worth approximately $194,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Equity Residential by 22.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds own 83.92% of the company's stock.
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Equity Residential Price Performance
NYSE EQR opened at $69.86 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $26.28 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.82. The company has a 50 day moving average price of $75.31 and a two-hundred day moving average price of $78.87. Equity Residential has a 12-month low of $67.48 and a 12-month high of $94.32.
Equity Residential Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, September 26th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, September 23rd. Equity Residential's payout ratio is 75.08%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Evercore ISI dropped their target price on shares of Equity Residential from $85.00 to $81.00 and set an "outperform" rating on the stock in a research report on Monday. UBS Group raised their price target on shares of Equity Residential from $83.00 to $91.00 and gave the stock a "buy" rating in a report on Friday, July 29th. Credit Suisse Group initiated coverage on shares of Equity Residential in a report on Wednesday, June 22nd. They set an "outperform" rating and a $80.00 price target for the company. Royal Bank of Canada upgraded shares of Equity Residential from a "sector perform" rating to an "outperform" rating and decreased their price target for the stock from $95.00 to $79.00 in a report on Wednesday, June 22nd. Finally, Piper Sandler cut shares of Equity Residential from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $78.00 to $70.00 in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.53.
Equity Residential Profile
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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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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