Russell Investments Group Ltd. lowered its stake in Equity Residential (NYSE:EQR) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 933,947 shares of the real estate investment trust’s stock after selling 110,750 shares during the period. Russell Investments Group Ltd. owned approximately 0.25% of Equity Residential worth $61,536,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of EQR. Anchor Capital Advisors LLC increased its position in shares of Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 50 shares during the period. Delta Asset Management LLC TN increased its position in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares during the period. Financial Architects Inc increased its position in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares during the period. Cleararc Capital Inc. increased its position in Equity Residential by 1.1% in the first quarter. Cleararc Capital Inc. now owns 8,993 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 100 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Equity Residential by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 27,252 shares of the real estate investment trust’s stock worth $1,695,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.
Equity Residential (EQR) traded down 0.13% during midday trading on Tuesday, hitting $67.15. The stock had a trading volume of 2,096,581 shares. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The stock has a market capitalization of $24.66 billion, a PE ratio of 30.02 and a beta of 0.34. The stock’s 50-day moving average is $66.70 and its 200-day moving average is $64.37.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities research analysts anticipate that Equity Residential will post $1.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were paid a $0.5038 dividend. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a yield of 3.00%. Equity Residential’s dividend payout ratio (DPR) is presently 90.58%.
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A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC upped their target price on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Bank of America Corporation raised Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, June 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $68.08.
In related news, insider David S. Santee sold 10,967 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $67.93, for a total transaction of $744,988.31. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bruce C. Strohm sold 1,686 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $67.23, for a total value of $113,349.78. The disclosure for this sale can be found here. Insiders sold a total of 55,838 shares of company stock valued at $3,724,023 in the last 90 days. Corporate insiders own 3.79% of the company’s stock.
Equity Residential Company Profile
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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