Handelsbanken Fonder AB Grows Holdings in Equity Residential $EQR

Handelsbanken Fonder AB grew its position in Equity Residential (NYSE:EQR) by 30.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 248,010 shares of the real estate investment trust’s stock after acquiring an additional 57,374 shares during the period. Handelsbanken Fonder AB’s holdings in Equity Residential were worth $16,847,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CX Institutional grew its position in shares of Equity Residential by 5.7% during the 2nd quarter. CX Institutional now owns 2,939 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 159 shares during the period. Insigneo Advisory Services LLC raised its holdings in Equity Residential by 4.9% in the 4th quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 165 shares during the period. Cetera Investment Advisers boosted its position in Equity Residential by 0.3% during the first quarter. Cetera Investment Advisers now owns 61,177 shares of the real estate investment trust’s stock worth $3,619,000 after purchasing an additional 171 shares in the last quarter. Leonteq Securities AG boosted its position in Equity Residential by 48.8% during the first quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in Equity Residential by 4.2% during the first quarter. Frank Rimerman Advisors LLC now owns 4,990 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 201 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Trading Down 1.2%

Shares of Equity Residential stock opened at $64.33 on Thursday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. Equity Residential has a twelve month low of $57.57 and a twelve month high of $71.50. The firm has a market capitalization of $24.12 billion, a PE ratio of 27.97, a P/E/G ratio of 5.18 and a beta of 0.73. The firm’s 50-day moving average price is $67.54 and its 200 day moving average price is $64.47.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were given a $0.7025 dividend. This represents a $2.81 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 29th. Equity Residential’s dividend payout ratio (DPR) is 122.17%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings upgraded Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Stifel Nicolaus increased their target price on Equity Residential from $78.25 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Royal Bank Of Canada cut shares of Equity Residential from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $69.00 to $70.00 in a research note on Monday, June 8th. Wall Street Zen cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, BMO Capital Markets boosted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “market perform” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.40.

Equity Residential Company Profile

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.