First Trust Advisors LP lowered its holdings in Equity Residential (NYSE:EQR) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,434 shares of the real estate investment trust’s stock after selling 17,516 shares during the period. First Trust Advisors LP owned about 0.12% of Equity Residential worth $28,123,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Equity Residential by 6.3% in the 2nd quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after purchasing an additional 2,247,512 shares during the last quarter. FMR LLC grew its stake in shares of Equity Residential by 5.1% in the 2nd quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock worth $678,982,000 after purchasing an additional 520,610 shares during the last quarter. Boston Partners grew its stake in shares of Equity Residential by 80.2% in the 2nd quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after purchasing an additional 2,862,717 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Equity Residential by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after purchasing an additional 71,485 shares during the last quarter. Finally, Cbre Clarion Securities LLC grew its stake in shares of Equity Residential by 12.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 4,492,256 shares of the real estate investment trust’s stock worth $286,112,000 after purchasing an additional 485,777 shares during the last quarter. 87.34% of the stock is currently owned by institutional investors.
Shares of EQR opened at $64.44 on Friday. Equity Residential has a one year low of $54.97 and a one year high of $70.46. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.29 and a beta of 0.40. The company has a quick ratio of 0.16, a current ratio of 0.13 and a debt-to-equity ratio of 0.85.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.23). The firm had revenue of $652.87 million during the quarter, compared to analyst estimates of $645.77 million. Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, analysts anticipate that Equity Residential will post 3.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Monday, September 24th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, September 21st. Equity Residential’s dividend payout ratio is currently 69.01%.
EQR has been the topic of several recent research reports. Mizuho reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Equity Residential in a research note on Monday, August 6th. Argus raised their target price on shares of Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Scotiabank initiated coverage on shares of Equity Residential in a report on Tuesday, October 16th. They issued an “outperform” rating for the company. Robert W. Baird reiterated a “hold” rating and issued a $66.00 target price on shares of Equity Residential in a report on Thursday, August 16th. Finally, Wells Fargo & Co set a $70.00 target price on shares of Equity Residential and gave the stock a “hold” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.69.
In related news, insider Michael L. Manelis sold 670 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total transaction of $45,499.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gerald A. Spector sold 13,024 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total transaction of $879,120.00. Following the sale, the insider now owns 294,287 shares of the company’s stock, valued at $19,864,372.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,177 shares of company stock valued at $4,787,379. 3.75% of the stock is currently owned by corporate insiders.
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 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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