Sei Investments Co. boosted its stake in shares of Equity Residential (NYSE:EQR) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,853 shares of the real estate investment trust’s stock after buying an additional 46,146 shares during the period. Sei Investments Co. owned 0.21% of Equity Residential worth $51,799,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Equity Residential by 2.2% in the first quarter. Vanguard Group Inc. now owns 52,348,375 shares of the real estate investment trust’s stock valued at $3,257,116,000 after buying an additional 1,140,042 shares in the last quarter. BlackRock Inc. raised its stake in shares of Equity Residential by 2,486.4% in the first quarter. BlackRock Inc. now owns 33,800,889 shares of the real estate investment trust’s stock worth $2,103,090,000 after buying an additional 32,494,035 shares during the period. State Street Corp raised its stake in shares of Equity Residential by 1.3% in the first quarter. State Street Corp now owns 21,674,961 shares of the real estate investment trust’s stock worth $1,348,617,000 after buying an additional 286,200 shares during the period. APG Asset Management US Inc. raised its stake in shares of Equity Residential by 1.8% in the second quarter. APG Asset Management US Inc. now owns 15,060,400 shares of the real estate investment trust’s stock worth $991,426,000 after buying an additional 269,599 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Equity Residential by 7.3% in the first quarter. Macquarie Group Ltd. now owns 12,930,323 shares of the real estate investment trust’s stock worth $804,524,000 after buying an additional 879,622 shares during the period. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
Equity Residential (NYSE EQR) traded down 0.15% during mid-day trading on Friday, hitting $66.98. The stock had a trading volume of 1,260,508 shares. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 29.97 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The stock’s 50-day moving average price is $66.58 and its 200-day moving average price is $64.51.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Equity Residential had a return on equity of 7.64% and a net margin of 33.44%. The firm had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Equity Residential will post $1.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.01%. Equity Residential’s dividend payout ratio is presently 90.58%.
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EQR has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Equity Residential from $62.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, April 19th. Barclays PLC boosted their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. BMO Capital Markets reissued a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a report on Thursday, May 25th. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. One 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 stock. The company currently has an average rating of “Hold” and an average price target of $67.92.
In related news, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total value of $65,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan W. George sold 28,157 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,124 shares of company stock valued at $3,945,054. 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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