Tobam Sells 764 Shares of Equity Residential (NYSE:EQR)

Tobam decreased its stake in Equity Residential (NYSE:EQR) by 30.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,775 shares of the real estate investment trust’s stock after selling 764 shares during the period. Tobam’s holdings in Equity Residential were worth $123,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equity Residential by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 217,304 shares of the real estate investment trust’s stock valued at $15,068,000 after buying an additional 4,570 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of Equity Residential by 18.4% during the second quarter. Ameritas Advisory Services LLC now owns 8,159 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 1,268 shares during the period. Whittier Trust Co. lifted its stake in shares of Equity Residential by 12.4% during the second quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 201 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 153 shares during the period. Finally, Atomi Financial Group Inc. acquired a new position in shares of Equity Residential during the second quarter valued at $205,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Trading Up 1.0 %

EQR stock traded up $0.76 during mid-day trading on Friday, reaching $74.80. The company’s stock had a trading volume of 633,804 shares, compared to its average volume of 1,920,543. 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 12 month low of $52.57 and a 12 month high of $74.92. The business’s 50 day moving average price is $69.97 and its 200 day moving average price is $65.75. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 4.06 and a beta of 0.87.

Equity Residential (NYSE:EQR) last posted 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). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts predict that Equity Residential will post 3.88 EPS for the current year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were given a $0.675 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.70 annualized dividend and a yield of 3.61%. Equity Residential’s dividend payout ratio is currently 112.03%.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the sale, the chief financial officer now directly owns 14,576 shares in the company, valued at $1,006,910.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on EQR shares. UBS Group increased their price target on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Morgan Stanley increased their price objective on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Scotiabank increased their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Finally, Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and an average target price of $72.16.

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.