Equity Residential (NYSE:EQR) Shares Bought by North Star Investment Management Corp.

North Star Investment Management Corp. raised its stake in shares of Equity Residential (NYSE:EQR) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,078 shares of the real estate investment trust’s stock after buying an additional 2,036 shares during the period. North Star Investment Management Corp.’s holdings in Equity Residential were worth $2,573,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Anchor Capital Advisors LLC increased 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 valued at $226,000 after buying an additional 50 shares during the last quarter. Delta Asset Management LLC TN increased 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 valued at $125,000 after buying an additional 57 shares during the last quarter. Financial Architects Inc increased 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 valued at $106,000 after buying an additional 94 shares during the last quarter. Cleararc Capital Inc. increased its position in 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 valued at $560,000 after buying an additional 100 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in 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 valued at $1,695,000 after buying an additional 120 shares during the last quarter. 92.09% of the stock is currently owned by institutional investors.

Equity Residential (EQR) opened at 67.32 on Friday. The firm’s 50-day moving average price is $66.69 and its 200-day moving average price is $64.31. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The firm has a market cap of $24.73 billion, a P/E ratio of 30.09 and a beta of 0.34.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. Equities research analysts anticipate that Equity Residential will post $1.40 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were given a dividend of $0.5038 per share. This represents a $2.02 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s payout ratio is currently 90.58%.

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EQR has been the topic of a number of research analyst reports. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Barclays PLC increased their price target on Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday. TheStreet upgraded Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, June 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $68.08.

In other news, insider Michael L. Manelis sold 1,000 shares of the firm’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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 55,838 shares of company stock valued at $3,724,023. 3.79% of the stock is owned by company insiders.

Equity Residential Company Profile

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.