The Manufacturers Life Insurance Company Sells 47,852 Shares of Equity Residential $EQR

The Manufacturers Life Insurance Company reduced its stake in shares of Equity Residential (NYSE:EQR) by 9.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 462,623 shares of the real estate investment trust’s stock after selling 47,852 shares during the period. The Manufacturers Life Insurance Company’s holdings in Equity Residential were worth $31,426,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vestcor Inc raised its position in Equity Residential by 1,432.1% in the 4th quarter. Vestcor Inc now owns 114,325 shares of the real estate investment trust’s stock valued at $7,207,000 after buying an additional 106,863 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Equity Residential by 233.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 832,789 shares of the real estate investment trust’s stock valued at $49,259,000 after acquiring an additional 583,231 shares in the last quarter. Hsbc Holdings PLC boosted its position in Equity Residential by 26.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,475,500 shares of the real estate investment trust’s stock worth $93,079,000 after acquiring an additional 310,859 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Equity Residential during the 2nd quarter worth approximately $1,908,000. Finally, Geode Capital Management LLC grew its stake in shares of Equity Residential by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 10,258,275 shares of the real estate investment trust’s stock worth $644,412,000 after acquiring an additional 114,604 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Equity Residential from $70.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $72.00 target price on shares of Equity Residential in a research report on Monday, July 20th. Bank of America upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Wednesday, May 27th. Royal Bank Of Canada cut shares of Equity Residential from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $69.00 to $70.00 in a research report on Monday, June 8th. Finally, Jefferies Financial Group upgraded shares of Equity Residential to a “hold” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.40.

Equity Residential Price Performance

Equity Residential has a 12 month low of $57.57 and a 12 month high of $71.50. The company has a market cap of $23.88 billion, a PE ratio of 27.69, a P/E/G ratio of 5.53 and a beta of 0.73. The business’s 50-day moving average is $66.16 and its 200 day moving average is $64.60. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $785.05 million during the quarter, compared to analysts’ expectations of $787.28 million. Equity Residential had a net margin of 27.97% and a return on equity of 8.06%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that Equity Residential will post 4.08 EPS for the current year.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a dividend of $0.7025 per share. The ex-dividend date was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a yield of 4.4%. Equity Residential’s payout ratio is 122.17%.

About Equity Residential

Equity Residential (NYSE:EQR) is a real estate investment trust that owns, operates and develops rental apartment communities. The company focuses on providing housing in large, economically diverse metropolitan areas where demand for apartment living is supported by employment, population growth and limited housing supply.

Its portfolio primarily serves residents in major U.S. markets, including Boston, New York, Washington, DC, Southern California, Seattle and Denver. Equity Residential’s activities include leasing apartment homes, managing residential communities and providing resident services and property amenities.

The company traces its roots to 1969 and was founded by real estate investor Samuel Zell.