Exxonmobil Investment Management Inc. TX lessened its holdings in Equity Residential (NYSE:EQR) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,432 shares of the real estate investment trust’s stock after selling 8,645 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Equity Residential were worth $3,726,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Forsta AP Fonden lifted its holdings in shares of Equity Residential by 33.7% during the third quarter. Forsta AP Fonden now owns 147,700 shares of the real estate investment trust’s stock worth $9,738,000 after purchasing an additional 37,200 shares during the period. Janus Henderson Group PLC raised its position in Equity Residential by 157.8% during the second quarter. Janus Henderson Group PLC now owns 677,944 shares of the real estate investment trust’s stock valued at $44,632,000 after acquiring an additional 414,959 shares in the last quarter. Honeywell International Inc. raised its position in Equity Residential by 27.8% during the third quarter. Honeywell International Inc. now owns 92,269 shares of the real estate investment trust’s stock valued at $6,083,000 after acquiring an additional 20,043 shares in the last quarter. Wells Fargo & Company MN raised its position in Equity Residential by 15.4% during the third quarter. Wells Fargo & Company MN now owns 790,718 shares of the real estate investment trust’s stock valued at $52,132,000 after acquiring an additional 105,328 shares in the last quarter. Finally, Cohen & Steers Inc. raised its position in Equity Residential by 109.4% during the third quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after acquiring an additional 7,600,203 shares in the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.
Equity Residential (NYSE:EQR) traded down $0.38 during mid-day trading on Friday, hitting $59.95. The company had a trading volume of 2,454,305 shares, compared to its average volume of 1,938,279. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.24. The stock has a market cap of $22,062.68, a P/E ratio of 36.78, a PEG ratio of 2.91 and a beta of 0.34. Equity Residential has a 52-week low of $58.96 and a 52-week high of $70.46.
Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The business had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. During the same quarter in the previous year, the company posted $0.79 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. sell-side analysts expect that Equity Residential will post 3.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.5038 per share. The ex-dividend date was Friday, December 29th. This represents a $2.02 dividend on an annualized basis and a yield of 3.36%. Equity Residential’s payout ratio is 123.93%.
EQR has been the subject of several research reports. Stifel Nicolaus dropped their price target on Equity Residential from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday. SunTrust Banks set a $69.00 price objective on Equity Residential and gave the stock a “buy” rating in a research note on Monday, January 22nd. Edward Jones raised Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research lowered Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Robert W. Baird reissued a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $68.47.
In other Equity Residential news, CEO David J. Neithercut sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total transaction of $7,017,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan W. George sold 84,326 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $69.47, for a total value of $5,858,127.22. The disclosure for this sale can be found here. Insiders have sold a total of 213,729 shares of company stock valued at $14,911,408 over the last ninety days. 3.79% of the stock is owned by insiders.
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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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