Aperio Group LLC Buys 7,342 Shares of Equity Residential (EQR)
Aperio Group LLC lifted its stake in Equity Residential (NYSE:EQR) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,238 shares of the real estate investment trust’s stock after purchasing an additional 7,342 shares during the quarter. Aperio Group LLC’s holdings in Equity Residential were worth $8,497,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Landaas & Co. WI ADV purchased a new position in shares of Equity Residential in the 2nd quarter worth approximately $101,000. Girard Partners LTD. bought a new stake in shares of Equity Residential during the 2nd quarter worth approximately $203,000. Marco Investment Management LLC bought a new stake in shares of Equity Residential during the 2nd quarter worth approximately $205,000. HL Financial Services LLC lifted its stake in shares of Equity Residential by 156.6% during the 2nd quarter. HL Financial Services LLC now owns 3,265 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 9,030 shares during the last quarter. Finally, Fulton Bank N.A. bought a new stake in shares of Equity Residential during the 2nd quarter worth approximately $221,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.
A number of brokerages recently issued reports on EQR. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday. BMO Capital Markets raised their price target on Equity Residential from $68.00 to $69.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 24th. Stifel Nicolaus raised their price target on Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. ValuEngine raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Finally, Mizuho reissued a “buy” rating and set a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.43.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.23). The firm had revenue of $652.87 million for the quarter, compared to the consensus estimate of $645.77 million. Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Research analysts expect that Equity Residential will post 3.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Monday, September 24th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, September 21st. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
In other Equity Residential news, Vice Chairman Gerald A. Spector sold 13,024 shares of Equity Residential stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total transaction of $879,120.00. Following the completion of the sale, the insider now directly owns 294,287 shares of the company’s stock, valued at approximately $19,864,372.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael L. Manelis sold 670 shares of Equity Residential stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total value of $45,499.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,769 shares of company stock valued at $3,308,451. 3.75% of the stock is currently owned by corporate insiders.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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