Equity Residential (EQR) Shares Sold by HM Payson & Co.
HM Payson & Co. trimmed its holdings in Equity Residential (NYSE:EQR) by 17.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,893 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. HM Payson & Co.’s holdings in Equity Residential were worth $323,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EQR. Bessemer Group Inc. boosted its holdings 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 valued at $103,000 after purchasing an additional 872 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 73 shares in the last quarter. Sun Life Financial INC boosted its holdings in Equity Residential by 22,450.0% in the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,694 shares in the last quarter. Girard Partners LTD. acquired a new position in Equity Residential in the second quarter valued at approximately $209,000. Finally, Prudential PLC acquired a new position in Equity Residential in the second quarter valued at approximately $209,000. 90.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Equity Residential (EQR) traded down $0.63 during midday trading on Friday, hitting $69.25. The company had a trading volume of 1,410,900 shares, compared to its average volume of 1,524,760. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. Equity Residential has a 52-week low of $58.28 and a 52-week high of $70.46. The firm has a market capitalization of $25,448.34, a P/E ratio of 22.34, a PEG ratio of 3.50 and a beta of 0.37.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, September 25th were issued a dividend of $0.5038 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 22nd. Equity Residential’s dividend payout ratio is presently 99.02%.
In related news, insider Alan W. George sold 84,326 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $69.47, for a total transaction of $5,858,127.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Parrell sold 1,600 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $68.01, for a total value of $108,816.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 555,252 shares of company stock valued at $38,063,245. Corporate insiders own 3.79% of the company’s stock.
EQR has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on Equity Residential in a report on Friday, September 1st. They issued a “hold” rating and a $71.00 price target for the company. Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a report on Sunday, September 10th. TheStreet downgraded Equity Residential from a “b” rating to a “c+” rating in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 price objective on shares of Equity Residential in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $69.40.
Equity Residential 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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