American Research & Management Co. purchased a new stake in Equity Residential (NYSE:EQR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,902 shares of the real estate investment trust’s stock, valued at approximately $143,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Equity Residential in the fourth quarter valued at $25,000. Rational Advisors LLC acquired a new stake in shares of Equity Residential during the fourth quarter worth $31,000. Braun Bostich & Associates Inc. raised its holdings in shares of Equity Residential by 38.0% during the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 142 shares during the period. Liberty Wealth Management LLC acquired a new stake in shares of Equity Residential during the fourth quarter worth $38,000. Finally, Enlightenment Research LLC acquired a new stake in shares of Equity Residential during the fourth quarter worth $40,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
In other Equity Residential news, Director David J. Neithercut sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $72.15, for a total value of $3,607,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Gerald A. Spector sold 12,938 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $75.00, for a total transaction of $970,350.00. Following the completion of the sale, the insider now directly owns 290,065 shares of the company’s stock, valued at $21,754,875. The disclosure for this sale can be found here. Insiders sold a total of 267,803 shares of company stock valued at $19,724,549 in the last quarter. 3.75% of the stock is currently owned by insiders.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.54). The company had revenue of $652.55 million during the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities analysts expect that Equity Residential will post 3.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. Equity Residential’s dividend payout ratio is currently 69.85%.
A number of brokerages have weighed in on EQR. Barclays increased their target price on shares of Equity Residential from $73.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 target price on the stock in a report on Thursday, April 11th. Evercore ISI cut shares of Equity Residential from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. Zacks Investment Research lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets restated a “hold” rating and set a $78.00 price target on shares of Equity Residential in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $72.48.
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Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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