Equity Residential (EQR) Shares Sold by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. cut its position in Equity Residential (NYSE:EQR) by 2.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 139,600 shares of the real estate investment trust’s stock after selling 2,900 shares during the period. Pioneer Investment Management Inc.’s holdings in Equity Residential were worth $9,190,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the last quarter. Financial Architects Inc boosted its position in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares during the last quarter. Delta Asset Management LLC TN boosted its position in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Equity Residential during the first quarter worth approximately $218,000. Finally, Anchor Capital Advisors LLC boosted its position in Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.
Equity Residential (NYSE EQR) opened at 66.98 on Friday. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company has a 50 day moving average of $66.58 and a 200 day moving average of $64.51. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 29.97 and a beta of 0.34.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, equities analysts predict that Equity Residential will post $1.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a dividend of $0.5038 per share. This represents a $2.02 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s payout ratio is 90.58%.
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A number of analysts recently weighed in on the stock. TheStreet lowered shares of Equity Residential from a “b” rating to a “c+” rating in a research note on Wednesday, May 17th. BidaskClub lowered shares of Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Finally, Argus set a $75.00 price objective on shares of Equity Residential and gave the stock a “buy” rating in a research note on Thursday, April 27th. One equities 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 company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $67.92.
In related news, insider Michael L. Manelis sold 433 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark S. Shapiro sold 2,853 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total value of $192,006.90. Following the sale, the director now owns 2,573 shares of the company’s stock, valued at approximately $173,162.90. The disclosure for this sale can be found here. In the last 90 days, insiders have 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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