Equity Residential (EQR) Holdings Reduced by UBS Group AG

UBS Group AG reduced its position in Equity Residential (NYSE:EQR) by 57.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 148,851 shares of the real estate investment trust’s stock after selling 197,420 shares during the period. UBS Group AG’s holdings in Equity Residential were worth $9,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in Equity Residential by 2,976.2% in the 4th quarter. Assetmark Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 1,875 shares during the period. Optimum Investment Advisors purchased a new stake in Equity Residential in the 1st quarter worth approximately $173,000. Marco Investment Management LLC purchased a new stake in Equity Residential in the 4th quarter worth approximately $205,000. Quantum Capital Management purchased a new stake in Equity Residential in the 1st quarter worth approximately $206,000. Finally, Robecosam AG purchased a new stake in Equity Residential in the 4th quarter worth approximately $215,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

In related news, insider David S. Santee sold 1,928 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $61.55, for a total transaction of $118,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barry Altshuler sold 5,182 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $61.15, for a total transaction of $316,879.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,110 shares of company stock valued at $2,048,048. 3.75% of the stock is owned by corporate insiders.

Shares of Equity Residential opened at $63.30 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.19 and a quick ratio of 0.19. Equity Residential has a twelve month low of $54.97 and a twelve month high of $70.46. The firm has a market cap of $23.08 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 3.23 and a beta of 0.35.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). Equity Residential had a return on equity of 6.41% and a net margin of 26.83%. The business had revenue of $633.02 million for the quarter, compared to analysts’ expectations of $626.81 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. sell-side analysts expect that Equity Residential will post 3.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Monday, June 25th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 22nd. This represents a $2.16 dividend on an annualized basis and a yield of 3.41%. Equity Residential’s dividend payout ratio (DPR) is 69.01%.

EQR has been the subject of several research reports. Bank of America boosted their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, June 8th. ValuEngine raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. SunTrust Banks set a $66.00 price objective on shares of Equity Residential and gave the company a “buy” rating in a research note on Monday, March 19th. BMO Capital Markets set a $61.00 price objective on shares of Equity Residential and gave the company a “hold” rating in a research note on Friday, March 2nd. Finally, Morgan Stanley lowered their price objective on shares of Equity Residential from $66.50 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, June 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $66.38.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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