Equity Residential (EQR) Position Raised by Boston Partners
Boston Partners raised its position in shares of Equity Residential (NYSE:EQR) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,897,646 shares of the real estate investment trust’s stock after buying an additional 76,366 shares during the period. Boston Partners’ holdings in Equity Residential were worth $124,922,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its position in Equity Residential by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 115,440 shares of the real estate investment trust’s stock worth $7,182,000 after buying an additional 6,300 shares in the last quarter. National Pension Service boosted its position in Equity Residential by 9.9% in the first quarter. National Pension Service now owns 316,953 shares of the real estate investment trust’s stock worth $19,711,000 after buying an additional 28,475 shares in the last quarter. Merriman Wealth Management LLC boosted its position in Equity Residential by 1.7% in the first quarter. Merriman Wealth Management LLC now owns 60,858 shares of the real estate investment trust’s stock worth $3,787,000 after buying an additional 1,035 shares in the last quarter. DnB Asset Management AS boosted its position in Equity Residential by 18.1% in the first quarter. DnB Asset Management AS now owns 38,537 shares of the real estate investment trust’s stock worth $2,398,000 after buying an additional 5,900 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in Equity Residential by 5.7% in the first quarter. Duff & Phelps Investment Management Co. now owns 863,661 shares of the real estate investment trust’s stock worth $53,737,000 after buying an additional 46,325 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.
Shares of 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. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 29.97 and a beta of 0.34.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.44% and a return on equity of 7.64%. Equity Residential’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. On average, analysts predict that Equity Residential will post $1.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were issued a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.01%. Equity Residential’s dividend payout ratio (DPR) is presently 90.58%.
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EQR has been the topic of a number of recent 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 objective (up from $62.00) on shares of Equity Residential in a report on Wednesday, April 19th. Evercore ISI upped their price objective 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 objective on shares of Equity Residential in a report on Wednesday, April 26th. Finally, Argus set a $75.00 price objective on Equity Residential and gave the company a “buy” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $67.92.
In other Equity Residential news, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan W. George sold 28,157 shares of Equity Residential 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. In the last quarter, insiders sold 59,124 shares of company stock worth $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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