Carronade Capital Management LP Buys 8,548 Shares of Equity Residential $EQR

Carronade Capital Management LP boosted its stake in shares of Equity Residential (NYSE:EQR) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 152,549 shares of the real estate investment trust’s stock after purchasing an additional 8,548 shares during the quarter. Equity Residential comprises 0.7% of Carronade Capital Management LP’s holdings, making the stock its 17th largest position. Carronade Capital Management LP’s holdings in Equity Residential were worth $10,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new stake in shares of Equity Residential during the 2nd quarter worth about $61,000. FORA Capital LLC grew its stake in Equity Residential by 162.9% during the second quarter. FORA Capital LLC now owns 18,999 shares of the real estate investment trust’s stock worth $1,282,000 after buying an additional 11,773 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Equity Residential by 7.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 899,746 shares of the real estate investment trust’s stock worth $60,744,000 after buying an additional 63,291 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Equity Residential in the second quarter valued at approximately $68,000. Finally, State of Tennessee Department of Treasury raised its stake in shares of Equity Residential by 9.6% in the second quarter. State of Tennessee Department of Treasury now owns 677,231 shares of the real estate investment trust’s stock valued at $45,706,000 after acquiring an additional 59,069 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Trading Up 0.5%

Shares of EQR opened at $60.91 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.75. Equity Residential has a 12-month low of $58.38 and a 12-month high of $75.86. The firm has a market capitalization of $23.17 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 3.25 and a beta of 0.75. The stock’s fifty day simple moving average is $60.99 and its 200-day simple moving average is $64.38.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.02 EPS for the quarter, hitting analysts’ consensus estimates of $1.02. The firm had revenue of $782.41 million during the quarter, compared to analyst estimates of $779.68 million. Equity Residential had a return on equity of 10.30% and a net margin of 37.58%.During the same period last year, the company earned $0.98 earnings per share. Equity Residential has set its Q4 2025 guidance at 1.020-1.060 EPS and its FY 2025 guidance at 3.980-4.020 EPS. As a group, research analysts predict that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a $0.6925 dividend. This represents a $2.77 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, January 2nd. Equity Residential’s dividend payout ratio is currently 91.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho decreased their price target on Equity Residential from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. BNP Paribas cut Equity Residential from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Truist Financial cut their price target on Equity Residential from $75.00 to $70.00 and set a “buy” rating for the company in a report on Monday, November 17th. Morgan Stanley reduced their price target on shares of Equity Residential from $75.00 to $73.50 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Finally, Wall Street Zen raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.02.

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.