Goodwin Daniel L continued to hold its position in shares of Equity Residential (NYSE:EQR) during the second quarter, Holdings Channel reports. The institutional investor owned 28,264 shares of the real estate investment trust’s stock at the end of the second quarter. Equity Residential comprises about 0.8% of Goodwin Daniel L’s portfolio, making the stock its 14th largest position. Goodwin Daniel L’s holdings in Equity Residential were worth $1,861,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 period. 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 period. 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 period. Cleararc Capital Inc. boosted its position in shares of Equity Residential by 1.1% in the first quarter. Cleararc Capital Inc. now owns 8,993 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 100 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Equity Residential by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 27,252 shares of the real estate investment trust’s stock worth $1,695,000 after buying an additional 120 shares during the period. 91.95% of the stock is owned by institutional investors.
Shares of Equity Residential (EQR) opened at 67.50 on Friday. The firm has a 50-day moving average of $66.64 and a 200 day moving average of $64.21. The stock has a market capitalization of $24.78 billion, a PE ratio of 29.35 and a beta of 0.33. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Equity Residential will post $1.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were issued a dividend of $0.5038 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.99%. Equity Residential’s dividend payout ratio is currently 90.58%.
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A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Evercore ISI raised their price objective on shares of Equity Residential from $62.00 to $63.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 19th. UBS AG cut shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Thursday, July 6th. BMO Capital Markets reissued a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $67.00 price objective on shares of Equity Residential in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.67.
In other Equity Residential news, insider Michael L. Manelis sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David S. Santee sold 14,028 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $67.27, for a total transaction of $943,663.56. The disclosure for this sale can be found here. Insiders have sold 44,871 shares of company stock worth $2,979,034 in the last 90 days. 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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