RB Capital Management LLC grew its position in Equity Residential (NYSE:EQR – Get Rating) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,944 shares of the real estate investment trust's stock after purchasing an additional 681 shares during the period. RB Capital Management LLC's holdings in Equity Residential were worth $1,007,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in EQR. Private Advisor Group LLC bought a new stake in Equity Residential during the fourth quarter worth approximately $296,000. Ensign Peak Advisors Inc boosted its position in Equity Residential by 55.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 58,423 shares of the real estate investment trust's stock worth $5,287,000 after purchasing an additional 20,757 shares during the period. Renaissance Technologies LLC boosted its position in Equity Residential by 53.9% during the fourth quarter. Renaissance Technologies LLC now owns 196,100 shares of the real estate investment trust's stock worth $17,747,000 after purchasing an additional 68,700 shares during the period. Invesco Ltd. boosted its position in Equity Residential by 1.7% during the fourth quarter. Invesco Ltd. now owns 2,703,852 shares of the real estate investment trust's stock worth $244,699,000 after purchasing an additional 44,980 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in Equity Residential during the fourth quarter worth approximately $256,000. Institutional investors and hedge funds own 83.92% of the company's stock.
Get Equity Residential alerts:Equity Residential Stock Performance
Equity Residential stock opened at $68.69 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.24 and a quick ratio of 0.24. The stock has a fifty day moving average price of $75.24 and a two-hundred day moving average price of $78.74. Equity Residential has a 52-week low of $67.48 and a 52-week high of $94.32. The firm has a market capitalization of $25.84 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.97 and a beta of 0.82.
Equity Residential Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, September 23rd. This represents a $2.50 annualized dividend and a yield of 3.64%. Equity Residential's dividend payout ratio is currently 75.08%.Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on EQR. Royal Bank of Canada raised Equity Residential from a "sector perform" rating to an "outperform" rating and decreased their target price for the stock from $95.00 to $79.00 in a research report on Wednesday, June 22nd. Barclays increased their price objective on Equity Residential from $83.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, September 15th. UBS Group increased their price objective on Equity Residential from $83.00 to $91.00 and gave the company a "buy" rating in a research report on Friday, July 29th. The Goldman Sachs Group increased their price objective on Equity Residential from $78.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, August 16th. Finally, Credit Suisse Group initiated coverage on Equity Residential in a research report on Wednesday, June 22nd. They issued an "outperform" rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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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