First Eagle Investment Management LLC Boosts Stock Holdings in Equity Residential $EQR

First Eagle Investment Management LLC grew its holdings in Equity Residential (NYSE:EQR) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,529,108 shares of the real estate investment trust’s stock after purchasing an additional 59,415 shares during the period. First Eagle Investment Management LLC’s holdings in Equity Residential were worth $647,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EQR. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Residential during the third quarter worth $27,000. Zions Bancorporation National Association UT grew its position in shares of Equity Residential by 375.2% in the fourth 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 purchased a new position in shares of Equity Residential in the fourth quarter valued at $30,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Equity Residential in the third quarter valued at $31,000. Finally, Leonteq Securities AG raised its stake in shares of Equity Residential by 48.8% during the 1st quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 180 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EQR has been the topic of a number of recent research reports. Weiss Ratings raised Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Truist Financial lifted their target price on Equity Residential from $70.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Evercore upped their price target on Equity Residential from $70.00 to $71.00 in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $72.00 price target on shares of Equity Residential in a report on Monday, July 20th. Finally, Nordea Equity Research upgraded shares of Equity Residential to a “buy” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $71.40.

Equity Residential Trading Up 0.0%

Equity Residential stock opened at $63.68 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.19 and a current ratio of 0.19. Equity Residential has a fifty-two week low of $57.57 and a fifty-two week high of $71.50. The stock has a market cap of $23.88 billion, a P/E ratio of 27.69, a PEG ratio of 5.53 and a beta of 0.73. The firm’s fifty day moving average price is $66.68 and its 200-day moving average price is $64.60.

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

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were given a dividend of $0.7025 per share. This represents a $2.81 dividend on an annualized basis 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%.

Equity Residential 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.