Cubist Systematic Strategies LLC Buys New Shares in Equity Residential (NYSE:EQR)

Cubist Systematic Strategies LLC bought a new stake in shares of Equity Residential (NYSE:EQR) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 11,580 shares of the real estate investment trust’s stock, valued at approximately $803,000.

Several other large investors have also recently bought and sold shares of EQR. Fidelis Capital Partners LLC bought a new stake in Equity Residential in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its holdings in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the period. Voisard Asset Management Group Inc. bought a new stake in Equity Residential in the 4th quarter valued at $33,000. HHM Wealth Advisors LLC increased its holdings in Equity Residential by 146.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in Equity Residential in the 1st quarter valued at $41,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQR has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their target price for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Performance

Equity Residential stock opened at $73.34 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83. The company has a market cap of $27.84 billion, a PE ratio of 30.43, a PEG ratio of 5.60 and a beta of 0.89. The company’s 50-day moving average is $73.59 and its two-hundred day moving average is $68.36.

Equity Residential (NYSE:EQR) last released 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 net margin of 32.83% and a return on equity of 8.53%. 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 posted $0.94 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be given a $0.675 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.68%. Equity Residential’s dividend payout ratio is 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.