Gilman Hill Asset Management LLC Takes $222,000 Position in Equity Residential (NYSE:EQR)

Gilman Hill Asset Management LLC bought a new position in shares of Equity Residential (NYSE:EQR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,200 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Several other hedge funds have also added to or reduced their stakes in EQR. Norges Bank bought a new stake in Equity Residential in the 4th quarter valued at about $2,143,388,000. Davis Asset Management L.P. acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $61,160,000. First Eagle Investment Management LLC boosted its stake in shares of Equity Residential by 5.9% in the fourth quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock valued at $570,333,000 after buying an additional 516,941 shares during the period. Sei Investments Co. grew its position in Equity Residential by 77.5% during the first quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock worth $67,014,000 after buying an additional 463,664 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Equity Residential by 793.8% during the 1st quarter. SG Americas Securities LLC now owns 444,791 shares of the real estate investment trust’s stock worth $28,071,000 after acquiring an additional 395,029 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQR has been the topic of several analyst reports. Evercore ISI lowered Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 target price on the stock. in a report on Monday, May 13th. Truist Financial raised their target price on shares of Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 24th. UBS Group upped their price target on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Scotiabank lifted their price objective on shares of Equity Residential from $72.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, BMO Capital Markets upgraded Equity Residential from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $68.00 to $70.00 in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus price target of $70.91.

Equity Residential Trading Up 1.4 %

NYSE:EQR traded up $0.96 during mid-day trading on Friday, hitting $71.35. 1,206,120 shares of the company’s stock were exchanged, compared to its average volume of 1,988,336. 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 has a fifty-two week low of $52.57 and a fifty-two week high of $72.32. The company has a 50 day simple moving average of $68.40 and a 200-day simple moving average of $64.58. The firm has a market capitalization of $27.08 billion, a P/E ratio of 29.61, a PEG ratio of 4.06 and a beta of 0.87.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.49). The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. As a group, research analysts expect that Equity Residential will post 3.88 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.675 per share. The ex-dividend date was Monday, July 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.78%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,006,910.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

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.