KCG Holdings Inc. bought a new stake in Equity Residential (NYSE:EQR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,441 shares of the real estate investment trust’s stock, valued at approximately $712,000.
Several other hedge funds also recently made changes to their positions in EQR. Financial Architects Inc boosted its stake 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. Delta Asset Management LLC TN boosted its stake 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. Integrated Investment Consultants LLC bought a new stake in shares of Equity Residential during the first quarter valued at approximately $129,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Equity Residential during the fourth quarter valued at $200,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Equity Residential during the first quarter valued at $218,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Shares of Equity Residential (NYSE EQR) traded up 0.31% during mid-day trading on Friday, hitting $67.71. 1,084,168 shares of the company were exchanged. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The stock has a market cap of $24.87 billion, a PE ratio of 30.27 and a beta of 0.33. The stock’s 50-day moving average price is $66.65 and its 200 day moving average price is $64.24.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business 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 firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, equities analysts anticipate that Equity Residential will post $1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a yield of 2.98%. Equity Residential’s dividend payout ratio (DPR) is presently 90.58%.
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Several research firms have weighed in on EQR. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $67.00 price target on shares of Equity Residential in a report on Monday, July 17th. UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a report on Thursday, July 6th. BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Equity Residential has a consensus rating of “Hold” and an average target price of $67.67.
In other news, insider Michael L. Manelis sold 1,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan W. George sold 28,157 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold a total of 44,871 shares of company stock valued at $2,979,034 over the last 90 days. 3.79% of the stock is currently owned by corporate insiders.
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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