Equity Residential (NYSE:EQR) Stake Decreased by Janus Capital Management LLC
Janus Capital Management LLC reduced its position in Equity Residential (NYSE:EQR) by 80.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 57,792 shares of the real estate investment trust’s stock after selling 241,406 shares during the period. Janus Capital Management LLC’s holdings in Equity Residential were worth $3,596,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Financial Architects Inc boosted its position in shares of 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 shares of 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. Integrated Investment Consultants LLC purchased a new position in shares of Equity Residential during the first quarter worth about $129,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Equity Residential during the first quarter worth about $218,000. Finally, Anchor Capital Advisors LLC boosted its position in shares of 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. Institutional investors own 91.95% of the company’s stock.
Shares of Equity Residential (EQR) opened at 65.46 on Monday. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 28.46 and a beta of 0.33. The stock’s 50 day moving average is $66.31 and its 200 day moving average is $63.89. Equity Residential has a 52-week low of $58.28 and a 52-week high of $70.75.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The business had revenue of $604.10 million during the quarter, compared to the consensus estimate of $605.69 million. During the same quarter last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts predict that Equity Residential will post $1.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s dividend payout ratio (DPR) is 88.21%.
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A number of brokerages recently issued reports on EQR. TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a research note on Wednesday, May 17th. Bank of America Corporation upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, June 16th. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Argus set a $75.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $63.00 target price on shares of Equity Residential in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Equity Residential has an average rating of “Hold” and a consensus target price of $67.27.
In related news, insider David S. Santee sold 14,028 shares of Equity Residential stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $67.27, for a total transaction of $943,663.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce C. Strohm sold 1,686 shares of Equity Residential stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $67.23, for a total value of $113,349.78. The disclosure for this sale can be found here. Insiders have sold 44,871 shares of company stock valued at $2,979,034 in the last ninety days. Corporate insiders own 3.79% of the company’s stock.
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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