Carronade Capital Management LP Trims Stake in Equity Residential $EQR

Carronade Capital Management LP lessened its stake in shares of Equity Residential (NYSE:EQR) by 21.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 123,062 shares of the real estate investment trust’s stock after selling 33,316 shares during the period. Equity Residential accounts for about 0.1% of Carronade Capital Management LP’s portfolio, making the stock its 17th largest position. Carronade Capital Management LP’s holdings in Equity Residential were worth $7,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EQR. Norges Bank acquired a new position in shares of Equity Residential in the fourth quarter worth $2,201,674,000. Cohen & Steers Inc. boosted its stake in shares of Equity Residential by 227.7% during the fourth quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust’s stock valued at $466,869,000 after acquiring an additional 5,145,442 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Equity Residential by 876.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,500,885 shares of the real estate investment trust’s stock valued at $291,342,000 after acquiring an additional 4,039,752 shares during the last quarter. Wellington Management Group LLP increased its position in Equity Residential by 797.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,085,406 shares of the real estate investment trust’s stock worth $134,988,000 after purchasing an additional 1,852,970 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Equity Residential by 353.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,002,892 shares of the real estate investment trust’s stock worth $129,647,000 after purchasing an additional 1,561,241 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Up 0.0%

Shares of NYSE:EQR opened at $67.87 on Monday. The stock’s 50-day moving average price is $67.31 and its two-hundred day moving average price is $63.96. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of 0.77. Equity Residential has a 12-month low of $57.57 and a 12-month high of $71.50. The firm has a market cap of $25.45 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 5.40 and a beta of 0.74.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). Equity Residential had a net margin of 27.97% and a return on equity of 8.06%. The company had revenue of $779.85 million for the quarter, compared to analyst estimates of $781.79 million. During the same period in the prior year, the company earned $0.95 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equity Residential has set its FY 2026 guidance at 4.020-4.140 EPS and its Q2 2026 guidance at 0.980-1.020 EPS. On average, research analysts forecast that Equity Residential will post 4.08 EPS for the current year.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were issued a $0.7025 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, June 29th. Equity Residential’s payout ratio is presently 122.17%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $72.00 target price on shares of Equity Residential in a research note on Monday, July 20th. BNP Paribas Exane boosted their price objective on shares of Equity Residential from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Cantor Fitzgerald upped their price objective on shares of Equity Residential from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Nordea Equity Research upgraded shares of Equity Residential to a “buy” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group raised shares of Equity Residential to a “hold” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.40.

Equity Residential Company 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.