North Star Investment Management Corp. Has $2.54 Million Position in Equity Residential (EQR)
North Star Investment Management Corp. increased its stake in shares of Equity Residential (NYSE:EQR) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,856 shares of the real estate investment trust’s stock after purchasing an additional 1,081 shares during the period. North Star Investment Management Corp.’s holdings in Equity Residential were worth $2,542,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Cohen & Steers Inc. grew its stake in Equity Residential by 109.4% in the third quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after acquiring an additional 7,600,203 shares during the period. Daiwa Securities Group Inc. grew its stake in Equity Residential by 113.9% in the third quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock valued at $509,256,000 after acquiring an additional 4,112,438 shares during the period. JPMorgan Chase & Co. grew its stake in Equity Residential by 125.5% in the third quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock valued at $227,925,000 after acquiring an additional 1,926,438 shares during the period. FMR LLC grew its stake in Equity Residential by 16.4% in the second quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock valued at $440,917,000 after acquiring an additional 945,524 shares during the period. Finally, BlackRock Inc. grew its stake in Equity Residential by 2.3% in the second quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock valued at $2,277,386,000 after acquiring an additional 794,065 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.
Equity Residential (NYSE EQR) traded down $0.38 on Thursday, reaching $61.08. The company had a trading volume of 853,196 shares, compared to its average volume of 1,714,343. Equity Residential has a fifty-two week low of $59.49 and a fifty-two week high of $70.46. The company has a market capitalization of $22,500.00, a price-to-earnings ratio of 21.06, a PEG ratio of 3.05 and a beta of 0.36. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.5038 per share. The ex-dividend date is Friday, December 29th. This represents a $2.02 annualized dividend and a yield of 3.30%. Equity Residential’s payout ratio is presently 69.66%.
Several research analysts have recently weighed in on EQR shares. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 price objective on shares of Equity Residential in a research report on Monday, November 27th. Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, November 6th. Finally, Stifel Nicolaus reduced their price objective on Equity Residential from $71.00 to $68.00 and set a “hold” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.13.
In related news, insider Alexander Brackenridge sold 6,497 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $69.41, for a total transaction of $450,956.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Samuel Zell sold 91,651 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $67.17, for a total value of $6,156,197.67. The disclosure for this sale can be found here. Insiders have sold 402,380 shares of company stock worth $27,663,622 in the last quarter. 3.79% of the stock is currently owned by corporate insiders.
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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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