North Star Investment Management Corp. lessened its position in Equity Residential (NYSE:EQR) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,660 shares of the real estate investment trust’s stock after selling 1,975 shares during the quarter. North Star Investment Management Corp.’s holdings in Equity Residential were worth $309,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Equity Residential by 6.3% in the 2nd quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after acquiring an additional 2,247,512 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Equity Residential by 5.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,497,961 shares of the real estate investment trust’s stock worth $95,187,000 after acquiring an additional 75,700 shares during the last quarter. Honeywell International Inc. lifted its holdings in shares of Equity Residential by 23.4% in the 2nd quarter. Honeywell International Inc. now owns 101,129 shares of the real estate investment trust’s stock worth $6,441,000 after acquiring an additional 19,180 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Equity Residential in the 2nd quarter worth about $4,210,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Equity Residential by 19.3% in the 2nd quarter. Toronto Dominion Bank now owns 236,700 shares of the real estate investment trust’s stock worth $15,073,000 after acquiring an additional 38,284 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.
In other news, Vice Chairman Gerald A. Spector sold 13,024 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total value of $879,120.00. Following the completion of the sale, the insider now owns 294,287 shares in the company, valued at approximately $19,864,372.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael L. Manelis sold 670 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total transaction of $45,499.70. The disclosure for this sale can be found here. Insiders have sold a total of 48,769 shares of company stock valued at $3,308,451 in the last quarter. 3.75% of the stock is currently owned by company insiders.
Shares of EQR opened at $62.67 on Friday. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.46. The stock has a market cap of $24.40 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.43 and a beta of 0.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.16 and a quick ratio of 0.16.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The company had revenue of $639.62 million during the quarter, compared to analyst estimates of $637.34 million. During the same quarter last year, the business posted $0.77 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that Equity Residential will post 3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Monday, September 24th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 21st. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. Equity Residential’s payout ratio is 69.01%.
Several equities research analysts have recently issued reports on the stock. Deutsche Bank raised their target price on shares of Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Robert W. Baird restated a “hold” rating and issued a $66.00 target price on shares of Equity Residential in a report on Thursday, August 16th. SunTrust Banks lowered shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a report on Tuesday, August 14th. Mizuho restated a “buy” rating and issued a $76.00 target price on shares of Equity Residential in a report on Monday, August 6th. Finally, Stifel Nicolaus raised their target price on shares of Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Equity Residential currently has a consensus rating of “Hold” and an average price target of $67.57.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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