Green Street Investors LLC lifted its stake in Equity Residential (NYSE:EQR) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,500 shares of the real estate investment trust’s stock after buying an additional 1,400 shares during the quarter. Equity Residential comprises 10.2% of Green Street Investors LLC’s portfolio, making the stock its biggest holding. Green Street Investors LLC owned 0.05% of Equity Residential worth $17,381,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of EQR. Eii Capital Management Inc. raised its stake in Equity Residential by 3.0% during the 2nd quarter. Eii Capital Management Inc. now owns 77,118 shares of the real estate investment trust’s stock valued at $5,855,000 after purchasing an additional 2,259 shares during the period. DNB Asset Management AS raised its stake in Equity Residential by 2.4% during the 2nd quarter. DNB Asset Management AS now owns 39,656 shares of the real estate investment trust’s stock valued at $3,011,000 after purchasing an additional 929 shares during the period. Carroll Financial Associates Inc. purchased a new position in Equity Residential during the 2nd quarter valued at approximately $205,000. Timbercreek Investment Management Inc. grew its holdings in Equity Residential by 3.3% during the 2nd quarter. Timbercreek Investment Management Inc. now owns 268,420 shares of the real estate investment trust’s stock valued at $20,784,000 after buying an additional 8,600 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Equity Residential by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 172,767 shares of the real estate investment trust’s stock valued at $13,116,000 after buying an additional 511 shares in the last quarter. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Alan W. George sold 13,277 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $89.00, for a total transaction of $1,181,653.00. Following the completion of the sale, the executive vice president now directly owns 18,003 shares of the company’s stock, valued at approximately $1,602,267. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael L. Manelis sold 8,672 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.00, for a total value of $711,104.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,945 shares of company stock valued at $8,882,681. Company insiders own 3.75% of the company’s stock.
Shares of Equity Residential stock traded down $0.09 on Friday, reaching $83.98. The company had a trading volume of 966,498 shares, compared to its average volume of 1,406,390. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 4.05 and a beta of 0.44. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.13 and a quick ratio of 0.13. The firm’s 50-day moving average price is $87.04 and its two-hundred day moving average price is $81.07. Equity Residential has a 1 year low of $63.17 and a 1 year high of $89.55.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.17). The company had revenue of $685.15 million during the quarter, compared to analysts’ expectations of $679.66 million. Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. Equity Residential’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. As a group, analysts anticipate that Equity Residential will post 3.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.5675 dividend. This is a boost from Equity Residential’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, September 27th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.70%. Equity Residential’s payout ratio is 69.85%.
Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, August 12th. Robert W. Baird cut Equity Residential from a “neutral” rating to an “underperform” rating and raised their price target for the company from $78.00 to $81.00 in a report on Monday, October 14th. ValuEngine cut Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Goldman Sachs Group assumed coverage on Equity Residential in a report on Friday. They set a “sell” rating and a $86.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $82.16.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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