Equity Residential (NYSE:EQR) Position Decreased by Gateway Investment Advisers LLC
Gateway Investment Advisers LLC cut its stake in shares of Equity Residential (NYSE:EQR) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,933 shares of the real estate investment trust’s stock after selling 479 shares during the period. Gateway Investment Advisers LLC’s holdings in Equity Residential were worth $1,444,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of EQR. BlackRock Inc. boosted its stake in Equity Residential by 2,486.4% in the first quarter. BlackRock Inc. now owns 33,800,889 shares of the real estate investment trust’s stock valued at $2,103,090,000 after buying an additional 32,494,035 shares in the last quarter. Macquarie Group Ltd. increased its position in Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock valued at $775,583,000 after buying an additional 11,260,624 shares during the last quarter. American Century Companies Inc. increased its position in Equity Residential by 266.0% in the first quarter. American Century Companies Inc. now owns 1,981,160 shares of the real estate investment trust’s stock valued at $123,268,000 after buying an additional 1,439,915 shares during the last quarter. Vanguard Group Inc. increased its position in Equity Residential by 2.2% in the first quarter. Vanguard Group Inc. now owns 52,348,375 shares of the real estate investment trust’s stock valued at $3,257,116,000 after buying an additional 1,140,042 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Equity Residential by 64.5% in the first quarter. Bank of America Corp DE now owns 2,443,018 shares of the real estate investment trust’s stock valued at $152,006,000 after buying an additional 957,684 shares during the last quarter. 91.95% of the stock is owned by institutional investors and hedge funds.
Equity Residential (NYSE:EQR) opened at 67.16 on Thursday. The firm’s 50-day moving average price is $66.54 and its 200 day moving average price is $64.10. Equity Residential has a 52-week low of $58.28 and a 52-week high of $70.75. The stock has a market cap of $24.66 billion, a P/E ratio of 29.20 and a beta of 0.33.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The company had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $605.69 million. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities analysts predict that Equity Residential will post $1.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were issued a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.00%. Equity Residential’s dividend payout ratio is currently 88.21%.
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EQR has been the subject of several research analyst reports. BidaskClub downgraded Equity Residential from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Barclays PLC reaffirmed an “equal weight” rating and issued a $64.00 price objective (up from $62.00) on shares of Equity Residential in a research note on Wednesday, April 19th. Evercore ISI raised their price objective on Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a research note on Wednesday, April 19th. Finally, Argus set a $75.00 price objective on Equity Residential and gave the company a “buy” rating in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.67.
In other Equity Residential news, insider David S. Santee sold 14,028 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $67.27, for a total value of $943,663.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alan W. George sold 28,157 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold 44,871 shares of company stock worth $2,979,034 in the last ninety days. 3.79% of the stock is owned by corporate insiders.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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