Resolution Capital Ltd Has $95.71 Million Position in Equity Residential (EQR)
Resolution Capital Ltd increased its stake in Equity Residential (NYSE:EQR) by 40.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,451,609 shares of the real estate investment trust’s stock after buying an additional 415,345 shares during the quarter. Equity Residential accounts for approximately 4.4% of Resolution Capital Ltd’s portfolio, making the stock its 7th largest holding. Resolution Capital Ltd owned 0.40% of Equity Residential worth $95,705,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in Equity Residential by 124.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 872 shares during the period. D.A. Davidson & CO. raised its stake in Equity Residential by 4.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 73 shares during the period. Sun Life Financial INC raised its stake in Equity Residential by 22,450.0% in the 2nd quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 2,694 shares during the period. Girard Partners LTD. bought a new stake in Equity Residential in the 2nd quarter valued at about $209,000. Finally, Prudential PLC bought a new stake in Equity Residential in the 2nd quarter valued at about $209,000. 90.94% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, September 25th were paid a $0.5038 dividend. This represents a $2.02 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, September 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 99.02%.
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A number of equities research analysts recently issued reports on the company. UBS AG cut Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 6th. TheStreet cut Equity Residential from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. SunTrust Banks, Inc. set a $71.00 price objective on Equity Residential and gave the company a “buy” rating in a research note on Tuesday, October 24th. Stifel Nicolaus lowered their price objective on Equity Residential from $71.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday, October 27th. Finally, BidaskClub cut Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.85.
In other news, insider Michael L. Manelis sold 433 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total value of $29,023.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark S. Shapiro sold 2,853 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total value of $192,006.90. Following the completion of the transaction, the director now directly owns 2,573 shares in the company, valued at approximately $173,162.90. The disclosure for this sale can be found here. Insiders sold 254,306 shares of company stock worth $17,227,808 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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