Equity Residential (NYSE:EQR) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia lifted its holdings in shares of Equity Residential (NYSE:EQRFree Report) by 56.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,474 shares of the real estate investment trust’s stock after acquiring an additional 18,192 shares during the period. Bank of Nova Scotia’s holdings in Equity Residential were worth $3,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cornercap Investment Counsel Inc. raised its position in shares of Equity Residential by 2.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 185 shares in the last quarter. Czech National Bank raised its position in shares of Equity Residential by 0.4% during the 4th quarter. Czech National Bank now owns 60,520 shares of the real estate investment trust’s stock worth $3,701,000 after acquiring an additional 236 shares in the last quarter. Covestor Ltd raised its position in shares of Equity Residential by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,626 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 240 shares in the last quarter. US Bancorp DE raised its position in shares of Equity Residential by 0.4% during the 4th quarter. US Bancorp DE now owns 67,535 shares of the real estate investment trust’s stock worth $4,130,000 after acquiring an additional 251 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQR shares. Morgan Stanley raised their price target on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. Piper Sandler raised their price target on Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. The Goldman Sachs Group restated a “buy” rating and set a $70.00 price target on shares of Equity Residential in a research note on Thursday, February 22nd. Scotiabank raised their price target on Equity Residential from $65.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company raised their price target on Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.41.

Read Our Latest Stock Report on EQR

Insider Activity at Equity Residential

In related news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total value of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at $636,465.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now directly owns 9,720 shares of the company’s stock, valued at $636,465.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the transaction, the executive vice president now directly owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Equity Residential Stock Up 0.2 %

Equity Residential stock opened at $65.75 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The company has a market cap of $24.96 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 3.74 and a beta of 0.85. The stock’s 50 day moving average price is $64.34 and its 200 day moving average price is $61.71.

Equity Residential (NYSE:EQRGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The firm had revenue of $730.80 million for the quarter, compared to the consensus estimate of $728.09 million. During the same period in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Equity Residential will post 3.9 EPS for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a $0.675 dividend. The ex-dividend date was Friday, March 22nd. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.11%. Equity Residential’s payout ratio is 112.03%.

Equity Residential Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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