Resolution Capital Ltd increased its holdings in Equity Residential (NYSE:EQR) by 3.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,472,913 shares of the real estate investment trust’s stock after buying an additional 131,968 shares during the period. Equity Residential accounts for about 11.0% of Resolution Capital Ltd’s portfolio, making the stock its 2nd biggest position. Resolution Capital Ltd’s holdings in Equity Residential were worth $336,900,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Standard Life Aberdeen plc increased its holdings in Equity Residential by 1.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 203,580 shares of the real estate investment trust’s stock worth $13,491,000 after buying an additional 2,569 shares during the period. Legacy Bridge LLC acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $78,000. LMR Partners LLP acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $720,000. CI Investments Inc. grew its stake in shares of Equity Residential by 5.6% during the 3rd quarter. CI Investments Inc. now owns 337,100 shares of the real estate investment trust’s stock worth $22,336,000 after purchasing an additional 17,800 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $584,000. Institutional investors own 92.38% of the company’s stock.
Equity Residential stock traded down $1.24 during trading on Wednesday, reaching $74.49. The company had a trading volume of 56,557 shares, compared to its average volume of 1,310,492. Equity Residential has a 1-year low of $59.29 and a 1-year high of $77.64. The stock has a market capitalization of $28.01 billion, a P/E ratio of 22.92, a P/E/G ratio of 3.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.29 and a current ratio of 0.29.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The company had revenue of $652.55 million during the quarter, compared to analyst estimates of $652.35 million. During the same period in the prior year, the business posted $0.83 EPS. Equity Residential’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Equity Residential will post 3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a $0.5675 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.05%. This is a boost from Equity Residential’s previous quarterly dividend of $0.54. Equity Residential’s dividend payout ratio (DPR) is currently 69.85%.
A number of equities research analysts have recently commented on EQR shares. Evercore ISI cut shares of Equity Residential from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. Mizuho cut shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. raised shares of Equity Residential from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 price objective on shares of Equity Residential in a research note on Tuesday, January 29th. Finally, Barclays reaffirmed a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.48.
In related news, Vice Chairman Gerald A. Spector sold 12,938 shares of Equity Residential stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $75.00, for a total value of $970,350.00. Following the sale, the insider now owns 290,065 shares of the company’s stock, valued at approximately $21,754,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Fenster sold 475 shares of Equity Residential stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total transaction of $34,299.75. The disclosure for this sale can be found here. Insiders sold a total of 267,803 shares of company stock worth $19,724,549 in the last three months. 3.75% of the stock is owned by corporate insiders.
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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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