Centaurus Financial Inc. lessened its stake in shares of Equity Residential (NYSE:EQR) by 9.0% in the second quarter, Holdings Channel reports. The fund owned 10,065 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Centaurus Financial Inc.’s holdings in Equity Residential were worth $641,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in EQR. Wells Fargo & Company MN lifted its position in shares of Equity Residential by 16.1% during the 1st quarter. Wells Fargo & Company MN now owns 1,031,578 shares of the real estate investment trust’s stock valued at $63,566,000 after acquiring an additional 142,963 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Equity Residential by 37.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 263,394 shares of the real estate investment trust’s stock valued at $16,231,000 after acquiring an additional 71,310 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Equity Residential by 9.9% during the 1st quarter. Riverhead Capital Management LLC now owns 15,255 shares of the real estate investment trust’s stock valued at $940,000 after acquiring an additional 1,370 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Equity Residential by 50.2% in the first quarter. US Bancorp DE now owns 59,194 shares of the real estate investment trust’s stock valued at $3,648,000 after purchasing an additional 19,773 shares in the last quarter. Finally, 6 Meridian lifted its holdings in shares of Equity Residential by 21.1% in the first quarter. 6 Meridian now owns 8,046 shares of the real estate investment trust’s stock valued at $496,000 after purchasing an additional 1,403 shares in the last quarter. Institutional investors own 87.39% of the company’s stock.
Shares of NYSE:EQR opened at $67.83 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.84. Equity Residential has a 1 year low of $54.97 and a 1 year high of $70.46. The firm has a market cap of $24.95 billion, a P/E ratio of 21.11, a PEG ratio of 3.51 and a beta of 0.37.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01. Equity Residential had a return on equity of 5.63% and a net margin of 23.27%. The business had revenue of $639.62 million during the quarter, compared to analyst estimates of $637.34 million. During the same period last year, the company earned $0.77 earnings per share. Equity Residential’s quarterly revenue was up 4.5% compared to the same quarter last year. analysts anticipate that Equity Residential will post 3.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Monday, September 24th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 21st. This represents a $2.16 annualized dividend and a dividend yield of 3.18%. Equity Residential’s dividend payout ratio is 69.01%.
In related news, CEO David J. Neithercut sold 30,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $68.00, for a total transaction of $2,040,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Manelis sold 670 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.91, for a total value of $45,499.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,769 shares of company stock valued at $3,308,451. 3.75% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on EQR shares. Bank of America increased their target price on Equity Residential from $74.00 to $76.00 and gave the company a “buy” rating in a report on Friday, June 8th. Deutsche Bank increased their target price on Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. Robert W. Baird restated a “hold” rating and issued a $66.00 target price on shares of Equity Residential in a report on Thursday, August 16th. ValuEngine upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Finally, SunTrust Banks lowered Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and an average price target of $67.57.
Equity Residential Profile
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.
Further Reading: How Short Selling Works
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