Dupont Capital Management Corp lifted its position in Equity Residential (NYSE:EQR) by 32.3% during the third quarter, Holdings Channel reports. The institutional investor owned 77,336 shares of the real estate investment trust’s stock after purchasing an additional 18,869 shares during the period. Dupont Capital Management Corp’s holdings in Equity Residential were worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake 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 buying an additional 2,247,512 shares during the last quarter. FMR LLC boosted its stake in shares of Equity Residential by 5.1% in the 2nd quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock worth $678,982,000 after buying an additional 520,610 shares during the last quarter. Boston Partners boosted its stake in shares of Equity Residential by 80.2% in the 2nd quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after buying an additional 2,862,717 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Equity Residential by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after buying an additional 71,485 shares during the last quarter. Finally, Cbre Clarion Securities LLC boosted its stake in shares of Equity Residential by 12.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 4,492,256 shares of the real estate investment trust’s stock worth $286,112,000 after buying an additional 485,777 shares during the last quarter. Hedge funds and other institutional investors own 87.34% of the company’s stock.
Shares of Equity Residential stock opened at $67.48 on Friday. Equity Residential has a one year low of $54.97 and a one year high of $70.35. The firm has a market capitalization of $24.86 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.45 and a beta of 0.40. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.85.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.23). Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The company had revenue of $652.87 million during the quarter, compared to the consensus estimate of $645.77 million. During the same period in the prior year, the business posted $0.37 earnings per share. Equity Residential’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Equity Residential will post 3.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Monday, September 24th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 21st. This represents a $2.16 dividend on an annualized basis and a yield of 3.20%. Equity Residential’s dividend payout ratio is currently 69.01%.
EQR has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Mizuho restated a “buy” rating and issued a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. SunTrust Banks downgraded Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research note on Tuesday, August 14th. Robert W. Baird restated a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a research note on Thursday, August 16th. Finally, Deutsche Bank raised their price target on Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Equity Residential currently has a consensus rating of “Hold” and an average price target of $68.69.
In related news, CEO David J. Neithercut sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $66.00, for a total value of $1,320,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David J. Neithercut sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $68.00, for a total value of $2,040,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,676 shares of company stock worth $5,627,937. 3.75% of the stock is owned by insiders.
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Equity Residential Profile
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.
See Also: Return on Investment (ROI)
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