American Century Companies Inc. Sells 72,770 Shares of Equity Residential (EQR)
American Century Companies Inc. lowered its stake in Equity Residential (NYSE:EQR) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 2,447,445 shares of the real estate investment trust’s stock after selling 72,770 shares during the period. American Century Companies Inc.’s holdings in Equity Residential were worth $156,074,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Public Employees Retirement Association of Colorado lifted its position in Equity Residential by 3.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 66,225 shares of the real estate investment trust’s stock valued at $4,223,000 after purchasing an additional 2,272 shares during the last quarter. Resolution Capital Ltd lifted its position in Equity Residential by 9.3% in the fourth quarter. Resolution Capital Ltd now owns 1,586,004 shares of the real estate investment trust’s stock valued at $101,139,000 after purchasing an additional 134,395 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Equity Residential in the fourth quarter valued at approximately $349,000. Aperio Group LLC lifted its position in Equity Residential by 2.3% in the fourth quarter. Aperio Group LLC now owns 162,996 shares of the real estate investment trust’s stock valued at $10,394,000 after purchasing an additional 3,693 shares during the last quarter. Finally, Telemus Capital LLC bought a new stake in Equity Residential in the fourth quarter valued at approximately $1,159,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.
Several analysts have weighed in on the company. Jefferies Group reiterated a “hold” rating and issued a $62.00 price objective on shares of Equity Residential in a research report on Monday. Edward Jones upgraded Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Robert W. Baird reissued a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus reduced their target price on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and an average target price of $68.47.
Equity Residential (NYSE:EQR) opened at $56.86 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.29. Equity Residential has a 12 month low of $56.07 and a 12 month high of $70.46. The stock has a market capitalization of $21,363.45, a P/E ratio of 34.88, a PEG ratio of 2.82 and a beta of 0.34.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The business had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $625.83 million. During the same period last year, the firm posted $0.79 earnings per share. Equity Residential’s quarterly revenue was up 4.2% on a year-over-year basis. sell-side analysts anticipate that Equity Residential will post 3.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a $0.5038 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.02 annualized dividend and a yield of 3.54%. Equity Residential’s payout ratio is 123.93%.
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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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