Equity Residential (EQR)

The Scion Group has acquired a four-property, 2,316-bed student housing portfolio from SCHENK+ for $400 million, in partnership with Ares Real Estate funds. This acquisition expands Scion's presence at Texas State University, the University of Tennessee, and the University of Georgia, building on its recent aggressive growth in the student housing sector. The deal follows Scion's June acquisition of Student Quarters' operating business and a May partnership with Ares Management Corp. to invest in off-campus student housing.

Rakuten Investment Management Inc. has acquired a new position in Public Storage (NYSE:PSA), purchasing 25,841 shares valued at approximately $8.38 million in the second quarter. This move is part of a trend where numerous institutional investors have increased or initiated holdings in the real estate investment trust, which now sees 78.79% of its stock owned by hedge funds and institutional investors. Public Storage recently reported strong quarterly earnings, beating consensus estimates, and declared a quarterly dividend of $3.00 per share, equivalent to a 3.8% annualized yield.

Equity Residential and AvalonBay Communities have merged to form Vivmark Residential, the largest apartment real estate investment trust in the U.S., controlling 184,000 housing units. This merger raises concerns for tenants due to Vivmark's increased political power, potential influence on rental prices, and a track record of opposing tenant protections and engaging in predatory business practices, including alleged rent collusion and targeting Black tenants for eviction. The article urges close monitoring of Vivmark's actions by politicians, regulators, and housing justice activists.

Robert Garechana, former Executive Vice President and Chief Investment Officer at Equity Residential (EQR), has been appointed Executive Vice President and CFO of Sun Communities, effective September 8. He will replace Fernando Castro-Caratini, who will move to an advisory role. This move follows the recent "merger of equals" between EQR and AvalonBay Communities (AVB), which created Vivmark Residential, a combined entity with significant market capitalization.

Korea Investment CORP recently acquired 11,527 shares of Mid-America Apartment Communities, Inc. (MAA) valued at approximately $1.6 million during the second quarter. Other institutional investors also increased their stakes, with hedge funds and institutions collectively owning 93.6% of MAA's outstanding shares. Analyst sentiment for MAA is mixed, with a consensus "Hold" rating and an average price target of $144.81.