Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its position in Equity Residential (NYSE:EQR) by 21.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,888 shares of the real estate investment trust’s stock after selling 51,896 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned about 0.05% of Equity Residential worth $12,235,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Equity Residential by 2,486.4% in the first quarter. BlackRock Inc. now owns 33,800,889 shares of the real estate investment trust’s stock worth $2,103,090,000 after buying an additional 32,494,035 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after buying an additional 11,260,624 shares during the period. American Century Companies Inc. boosted its stake in shares of Equity Residential by 266.0% in the first quarter. American Century Companies Inc. now owns 1,981,160 shares of the real estate investment trust’s stock worth $123,268,000 after buying an additional 1,439,915 shares during the period. Vanguard Group Inc. boosted its stake in shares of Equity Residential by 2.2% in the first quarter. Vanguard Group Inc. now owns 52,348,375 shares of the real estate investment trust’s stock worth $3,257,116,000 after buying an additional 1,140,042 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Equity Residential by 64.5% in the first quarter. Bank of America Corp DE now owns 2,443,018 shares of the real estate investment trust’s stock worth $152,006,000 after buying an additional 957,684 shares during the period. Institutional investors and hedge funds own 92.39% of the company’s stock.
Equity Residential (NYSE EQR) opened at 66.98 on Friday. The stock’s 50 day moving average price is $66.58 and its 200 day moving average price is $64.51. The company has a market capitalization of $24.60 billion, a P/E ratio of 29.97 and a beta of 0.34. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Equity Residential had a net margin of 33.44% and a return on equity of 7.64%. The company had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Equity Residential will post $1.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a $0.5038 dividend. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a yield of 3.01%. Equity Residential’s payout ratio is currently 90.58%.
EQR has been the topic of several research analyst reports. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Barclays PLC reiterated an “equal weight” rating and issued a $64.00 price target (up previously from $62.00) on shares of Equity Residential in a report on Wednesday, April 19th. Evercore ISI raised their price target on Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, April 19th. Cantor Fitzgerald reiterated a “hold” rating and issued a $63.00 price target on shares of Equity Residential in a report on Wednesday, April 26th. Finally, Argus set a $75.00 target price on Equity Residential and gave the company a “buy” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and an average target price of $67.92.
In other Equity Residential news, Director Mark S. Shapiro sold 2,853 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total transaction of $192,006.90. Following the completion of the sale, the director now directly owns 2,573 shares in the company, valued at approximately $173,162.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan W. George sold 28,157 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,124 shares of company stock valued at $3,945,054. 3.79% of the stock is owned by company insiders.
About Equity Residential
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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