TD Asset Management Inc. Has $16.53 Million Stake in Equity Residential (EQR)
TD Asset Management Inc. decreased its position in Equity Residential (NYSE:EQR) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 251,083 shares of the real estate investment trust’s stock after selling 13,565 shares during the period. TD Asset Management Inc.’s holdings in Equity Residential were worth $16,529,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares in the last quarter. Financial Architects Inc increased its position in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares in the last quarter. Delta Asset Management LLC TN increased its position in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Equity Residential during the first quarter worth about $218,000. Finally, Anchor Capital Advisors LLC increased its position in Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares in the last quarter. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Equity Residential (NYSE EQR) opened at 66.98 on Friday. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The company has a market capitalization of $24.60 billion, a PE ratio of 29.97 and a beta of 0.34. The company has a 50-day moving average price of $66.58 and a 200-day moving average price of $64.51.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $612.48 million for the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. Analysts predict that Equity Residential will post $1.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were given a $0.5038 dividend. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 annualized dividend and a yield of 3.01%. Equity Residential’s payout ratio is 90.58%.
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A number of research firms have issued reports on EQR. UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a report on Thursday, July 6th. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. TheStreet raised shares of Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. Finally, Barclays PLC boosted their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $67.92.
In other Equity Residential news, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $65.93, for a total value of $1,856,391.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $65.63, for a total value of $65,630.00. The disclosure for this sale can be found here. Insiders sold 59,124 shares of company stock worth $3,945,054 over the last three months. Insiders own 3.79% of the company’s stock.
Equity Residential Company Profile
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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