Equity Residential (NYSE:EQR) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC lowered its holdings in Equity Residential (NYSE:EQR) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,018 shares of the real estate investment trust’s stock after selling 197 shares during the period. Kintegral Advisory LLC’s holdings in Equity Residential were worth $556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Equity Residential during the fourth quarter worth about $2,143,388,000. Davis Asset Management L.P. bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $61,160,000. First Eagle Investment Management LLC grew its holdings in Equity Residential by 5.9% in the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock worth $570,333,000 after buying an additional 516,941 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Equity Residential by 39.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after purchasing an additional 475,124 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Equity Residential by 77.5% during the 1st quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock valued at $67,014,000 after acquiring an additional 463,664 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EQR. Scotiabank raised their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Monday. Piper Sandler lifted their price objective on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wedbush lifted their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Finally, UBS Group lifted their target price on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential presently has a consensus rating of “Hold” and an average price target of $71.91.

Insider Activity

In related news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the transaction, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Equity Residential Stock Performance

Shares of NYSE:EQR traded up $0.75 on Wednesday, reaching $74.19. 1,399,282 shares of the company’s stock were exchanged, compared to its average volume of 1,932,249. The company has a fifty day moving average of $69.85 and a 200-day moving average of $65.69. Equity Residential has a twelve month low of $52.57 and a twelve month high of $74.38. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 4.06 and a beta of 0.87. The company has a current ratio of 0.21, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts predict that Equity Residential will post 3.88 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, July 1st. Equity Residential’s payout ratio is currently 112.03%.

Equity Residential 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.