Gamco Investors INC. ET AL Increases Position in Equity Residential (NYSE:EQR)

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Gamco Investors INC. ET AL lifted its holdings in shares of Equity Residential (NYSE:EQR) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,000 shares of the real estate investment trust’s stock after acquiring an additional 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Equity Residential were worth $1,811,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Cutler Group LP increased its holdings in Equity Residential by 105.0% in the third quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 8,767 shares during the last quarter. NEXT Financial Group Inc bought a new stake in Equity Residential in the second quarter valued at about $34,000. Trustcore Financial Services LLC bought a new stake in Equity Residential in the second quarter valued at about $40,000. CSat Investment Advisory L.P. increased its holdings in Equity Residential by 362.5% in the second quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 522 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Equity Residential in the second quarter valued at about $58,000. 88.46% of the stock is owned by hedge funds and other institutional investors.

EQR stock traded down $0.09 during midday trading on Friday, reaching $83.98. The company had a trading volume of 966,498 shares, compared to its average volume of 1,406,390. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $87.04 and a 200 day moving average price of $81.07. Equity Residential has a fifty-two week low of $63.17 and a fifty-two week high of $89.55. The firm has a market capitalization of $31.49 billion, a PE ratio of 25.84, a P/E/G ratio of 4.05 and a beta of 0.44.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.17). The company had revenue of $685.15 million during the quarter, compared to analyst estimates of $679.66 million. Equity Residential had a net margin of 29.88% and a return on equity of 7.73%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research analysts predict that Equity Residential will post 3.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.5675 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. This represents a $2.27 annualized dividend and a dividend yield of 2.70%. Equity Residential’s payout ratio is currently 69.85%.

Several analysts recently weighed in on the company. Goldman Sachs Group assumed coverage on Equity Residential in a report on Friday. They issued a “sell” rating and a $86.00 price objective for the company. ValuEngine downgraded Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Argus lifted their target price on Equity Residential from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their target price on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird downgraded Equity Residential from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $78.00 to $81.00 in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $82.16.

In other news, EVP Alan W. George sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $84.60, for a total transaction of $846,000.00. Following the completion of the transaction, the executive vice president now directly owns 31,280 shares in the company, valued at $2,646,288. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Garechana sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $83.55, for a total value of $417,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,945 shares of company stock valued at $8,882,681. Insiders own 3.75% of the company’s stock.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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