Tobam Purchases 152 Shares of Equity Residential (NYSE:EQR)

Tobam increased its stake in Equity Residential (NYSE:EQR) by 8.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,927 shares of the real estate investment trust’s stock after purchasing an additional 152 shares during the quarter. Tobam’s holdings in Equity Residential were worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQR. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential in the 1st quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Equity Residential during the fourth quarter valued at about $33,000. UMB Bank n.a. increased its holdings in shares of Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of EQR opened at $72.16 on Friday. The firm has a market cap of $27.36 billion, a PE ratio of 28.75, a P/E/G ratio of 6.05 and a beta of 0.89. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $73.80 and a two-hundred day simple moving average of $68.69.

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). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the previous year, the company earned $0.94 EPS. Equity Residential’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is 107.57%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Piper Sandler raised their price target on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. Finally, Wedbush upped their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.97.

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.