Boston Partners raised its position in Equity Residential (NYSE:EQR) by 80.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,431,486 shares of the real estate investment trust’s stock after acquiring an additional 2,862,717 shares during the period. Boston Partners owned about 1.75% of Equity Residential worth $409,622,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQR. Global X Management Co. LLC raised its stake in shares of Equity Residential by 20.5% during the 1st quarter. Global X Management Co. LLC now owns 12,494 shares of the real estate investment trust’s stock worth $770,000 after purchasing an additional 2,122 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Equity Residential during the 1st quarter worth approximately $531,000. Wells Fargo & Company MN raised its stake 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 worth $63,566,000 after purchasing an additional 142,963 shares in the last quarter. American Assets Investment Management LLC raised its stake in shares of Equity Residential by 13.6% during the 1st quarter. American Assets Investment Management LLC now owns 25,000 shares of the real estate investment trust’s stock worth $1,541,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Equity Residential by 51.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,444 shares of the real estate investment trust’s stock worth $828,000 after purchasing an additional 4,549 shares in the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.
In related news, insider David S. Santee sold 1,928 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $61.55, for a total value of $118,668.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David J. Neithercut sold 25,000 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total value of $1,612,500.00. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by corporate insiders.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $637.34 million. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. equities analysts expect that Equity Residential will post 3.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Monday, June 25th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, June 22nd. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
A number of equities research analysts have recently issued reports on EQR shares. Mizuho reiterated a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research note on Monday. Bank of America upped their price objective on Equity Residential from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. Morgan Stanley dropped their price objective on Equity Residential from $66.50 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 14th. Stifel Nicolaus upped their price objective on Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Finally, ValuEngine upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.07.
Equity Residential Company 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.
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