Northwestern Mutual Investment Management Company LLC lessened its position in Equity Residential (NYSE:EQR) by 81.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,944 shares of the real estate investment trust’s stock after selling 60,261 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Equity Residential were worth $960,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Aperio Group LLC boosted its position in shares of Equity Residential by 17.8% during the second quarter. Aperio Group LLC now owns 164,732 shares of the real estate investment trust’s stock valued at $10,844,000 after buying an additional 24,926 shares during the last quarter. Colony Group LLC lifted its holdings in Equity Residential by 45.0% during the first quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock worth $1,333,000 after acquiring an additional 6,646 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in Equity Residential by 7.9% during the second quarter. Virginia Retirement Systems ET AL now owns 343,887 shares of the real estate investment trust’s stock worth $22,638,000 after acquiring an additional 25,300 shares during the period. Green Street Investors LLC lifted its holdings in Equity Residential by 66.8% during the first quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock worth $13,147,000 after acquiring an additional 84,600 shares during the period. Finally, Land & Buildings Investment Management LLC bought a new stake in Equity Residential during the first quarter worth $15,692,000. 91.04% of the stock is currently owned by institutional investors.
Equity Residential (EQR) opened at 65.88 on Friday. The company’s 50-day moving average price is $67.53 and its 200 day moving average price is $65.65. The stock has a market capitalization of $24.20 billion, a PE ratio of 29.48 and a beta of 0.36. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that Equity Residential will post $1.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, September 25th will be issued a $0.5038 dividend. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.06%. Equity Residential’s payout ratio is 90.58%.
A number of brokerages recently commented on EQR. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. UBS AG lowered Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and issued a $67.00 target price on shares of Equity Residential in a research note on Monday, July 17th. Royal Bank Of Canada restated a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Equity Residential has a consensus rating of “Hold” and an average price target of $68.21.
In other news, CEO David J. Neithercut sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $68.10, for a total value of $5,107,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael L. Manelis sold 433 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. Insiders sold a total of 173,622 shares of company stock worth $11,816,599 over the last 90 days. Company insiders own 3.79% of the company’s stock.
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About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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