Toronto Dominion Bank boosted its holdings in shares of Equity Residential (NYSE:EQR) by 25.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,375 shares of the real estate investment trust’s stock after buying an additional 25,330 shares during the quarter. Toronto Dominion Bank’s holdings in Equity Residential were worth $8,186,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd increased its position in Equity Residential by 1.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 64 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Equity Residential by 4.1% during the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 73 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Equity Residential by 0.6% during the second quarter. Suntrust Banks Inc. now owns 17,043 shares of the real estate investment trust’s stock worth $1,121,000 after acquiring an additional 108 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Equity Residential by 0.4% during the first quarter. Oppenheimer & Co. Inc. now owns 27,252 shares of the real estate investment trust’s stock worth $1,695,000 after acquiring an additional 120 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Equity Residential by 0.4% during the second quarter. CIBC Asset Management Inc now owns 39,453 shares of the real estate investment trust’s stock worth $2,597,000 after acquiring an additional 168 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.
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Several research firms have weighed in on EQR. Jefferies Group LLC restated a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research note on Sunday, September 10th. Barclays PLC upped their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. TheStreet raised shares of Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Equity Residential presently has an average rating of “Hold” and a consensus target price of $68.36.
In related news, EVP Bruce C. Strohm sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $68.50, for a total transaction of $685,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David J. Neithercut sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $68.10, for a total transaction of $5,107,500.00. The disclosure for this sale can be found here. Insiders have sold 173,622 shares of company stock worth $11,816,599 over the last 90 days. Insiders own 3.79% of the company’s stock.
Equity Residential (NYSE EQR) traded up 0.43% on Friday, reaching $67.44. 448,498 shares of the company’s stock were exchanged. 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 $24.77 billion, a price-to-earnings ratio of 30.17 and a beta of 0.37. The firm has a 50 day moving average of $66.71 and a 200-day moving average of $66.32.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. Equity Residential had a net margin of 30.88% and a return on equity of 7.22%. The firm had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Equity Residential will post $1.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, September 25th were paid a dividend of $0.5038 per share. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.00%. Equity Residential’s payout ratio is 99.02%.
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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