Eaton Vance Management cut its holdings in Equity Residential (NYSE:EQR) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 733,335 shares of the real estate investment trust’s stock after selling 2,064 shares during the period. Eaton Vance Management owned about 0.20% of Equity Residential worth $43,472,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of EQR. Wealth Alliance raised its holdings in shares of Equity Residential by 4.6% in the third quarter. Wealth Alliance now owns 4,899 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 215 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Equity Residential by 23.8% in the third quarter. Truist Financial Corp now owns 25,220 shares of the real estate investment trust’s stock valued at $1,295,000 after purchasing an additional 4,844 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Equity Residential by 6.6% in the third quarter. Nuveen Asset Management LLC now owns 3,988,817 shares of the real estate investment trust’s stock valued at $204,746,000 after purchasing an additional 246,301 shares during the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Equity Residential in the third quarter valued at approximately $657,000. Finally, Kiwi Wealth Investments Limited Partnership acquired a new stake in shares of Equity Residential in the third quarter valued at approximately $1,303,000. Institutional investors own 85.60% of the company’s stock.
In other news, COO Michael L. Manelis sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $72.92, for a total value of $729,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christa L. Sorenson sold 343 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $73.00, for a total transaction of $25,039.00. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Equity Residential (NYSE:EQR) last announced its earnings results on Wednesday, February 10th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.06). The business had revenue of $613.40 million during the quarter, compared to the consensus estimate of $612.00 million. Equity Residential had a net margin of 35.97% and a return on equity of 8.89%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. Research analysts anticipate that Equity Residential will post 3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Monday, March 29th will be given a $0.6025 dividend. The ex-dividend date of this dividend is Friday, March 26th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 3.33%. Equity Residential’s payout ratio is presently 69.05%.
A number of brokerages recently weighed in on EQR. Evercore ISI upgraded shares of Equity Residential from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 20th. Zelman & Associates upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd. Royal Bank of Canada began coverage on shares of Equity Residential in a report on Tuesday, March 30th. They set a “sector perform” rating and a $71.00 target price on the stock. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b-” rating in a report on Wednesday, February 10th. Finally, Truist Securities restated a “hold” rating on shares of Equity Residential in a report on Thursday, March 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Equity Residential has a consensus rating of “Hold” and a consensus price target of $65.44.
Equity Residential Profile
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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