Pensionfund Sabic maintained its stake in Equity Residential (NYSE:EQR) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,953 shares of the real estate investment trust’s stock at the end of the second quarter. Pensionfund Sabic’s holdings in Equity Residential were worth $1,511,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the stock. Nuveen Asset Management LLC boosted its stake in Equity Residential by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 2,445,378 shares of the real estate investment trust’s stock worth $152,151,000 after buying an additional 559,828 shares during the period. Piedmont Investment Advisors LLC boosted its stake in Equity Residential by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 75,596 shares of the real estate investment trust’s stock worth $4,704,000 after buying an additional 657 shares during the period. HM Payson & Co. boosted its stake in Equity Residential by 5.4% in the first quarter. HM Payson & Co. now owns 5,893 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 300 shares during the period. Achmea Investment Management B.V. acquired a new stake in Equity Residential during the first quarter worth approximately $2,166,000. Finally, Ranger Global Real Estate Advisors LLC acquired a new stake in Equity Residential during the first quarter worth approximately $9,976,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Shares of Equity Residential (EQR) traded up 0.31% on Friday, hitting $67.71. The stock had a trading volume of 1,084,168 shares. Equity Residential has a one year low of $58.28 and a one year 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 company’s 50 day moving average is $66.65 and its 200 day moving average 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 EPS for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 earnings per share. Equities research analysts predict that Equity Residential will post $1.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were given a $0.5038 dividend. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 2.98%. Equity Residential’s dividend payout ratio is presently 90.58%.
A number of research firms have recently commented on EQR. 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 report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $67.00 target price on shares of Equity Residential in a research report on Monday, July 17th. UBS AG cut Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a report on Thursday, July 6th. BidaskClub cut Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.67.
In related news, insider David S. Santee sold 14,028 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $67.27, for a total transaction of $943,663.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,871 shares of company stock worth $2,979,034. 3.79% of the stock is owned by company insiders.
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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