Squarepoint Ops LLC Increases Stock Position in Equity Residential $EQR

Squarepoint Ops LLC boosted its position in shares of Equity Residential (NYSE:EQR) by 260.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,133 shares of the real estate investment trust’s stock after buying an additional 99,117 shares during the quarter. Squarepoint Ops LLC’s holdings in Equity Residential were worth $9,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQR. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Residential during the 3rd quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Equity Residential in the 3rd quarter valued at about $31,000. Zions Bancorporation National Association UT increased its stake in shares of Equity Residential by 375.2% in the 4th quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 379 shares in the last quarter. DV Equities LLC acquired a new position in Equity Residential in the 4th quarter worth about $30,000. Finally, Independence Bank of Kentucky acquired a new position in Equity Residential in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $63.68 on Friday. The stock has a market capitalization of $23.88 billion, a P/E ratio of 27.69, a PEG ratio of 5.53 and a beta of 0.73. The business has a 50 day simple moving average of $66.29 and a two-hundred day simple moving average of $64.61. Equity Residential has a 12 month low of $57.57 and a 12 month high of $71.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.19 and a quick ratio of 0.19.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.The firm had revenue of $785.05 million for the quarter, compared to analyst estimates of $787.28 million. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Equity Residential will post 4.08 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were issued a dividend of $0.7025 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.4%. Equity Residential’s dividend payout ratio is presently 122.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on EQR. Bank of America raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Wednesday, May 27th. Truist Financial upped their target price on Equity Residential from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Scotiabank lifted their price target on shares of Equity Residential from $67.00 to $70.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. 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 investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $71.40.

About Equity Residential

Equity Residential (NYSE:EQR) is a real estate investment trust that owns, operates and develops rental apartment communities. The company focuses on providing housing in large, economically diverse metropolitan areas where demand for apartment living is supported by employment, population growth and limited housing supply.

Its portfolio primarily serves residents in major U.S. markets, including Boston, New York, Washington, DC, Southern California, Seattle and Denver. Equity Residential’s activities include leasing apartment homes, managing residential communities and providing resident services and property amenities.

The company traces its roots to 1969 and was founded by real estate investor Samuel Zell.