Los Angeles Capital Management & Equity Research Inc. Has $36.67 Million Stake in Equity Residential (EQR)

Share on StockTwits

Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Equity Residential (NYSE:EQR) by 161.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,365 shares of the real estate investment trust’s stock after buying an additional 341,860 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.15% of Equity Residential worth $36,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQR. Boston Partners increased its position in shares of Equity Residential by 80.2% during the second quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock valued at $409,622,000 after buying an additional 2,862,717 shares during the period. BlackRock Inc. increased its position in shares of Equity Residential by 6.3% during the second quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock valued at $2,429,425,000 after buying an additional 2,247,512 shares during the period. Millennium Management LLC bought a new stake in shares of Equity Residential during the second quarter valued at about $103,610,000. Resolution Capital Ltd increased its position in shares of Equity Residential by 52.1% during the second quarter. Resolution Capital Ltd now owns 3,579,025 shares of the real estate investment trust’s stock valued at $227,948,000 after buying an additional 1,225,200 shares during the period. Finally, Commonwealth Bank of Australia increased its position in shares of Equity Residential by 28,372.7% during the second quarter. Commonwealth Bank of Australia now owns 739,721 shares of the real estate investment trust’s stock valued at $47,747,000 after buying an additional 737,123 shares during the period. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Several equities research analysts have recently weighed in on EQR shares. Wells Fargo & Co set a $70.00 price target on Equity Residential and gave the company a “hold” rating in a research report on Thursday, November 1st. Argus boosted their price objective on Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Deutsche Bank boosted their price objective on Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Robert W. Baird reissued a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a report on Thursday, August 16th. Finally, SunTrust Banks lowered Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a report on Tuesday, August 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.69.

In other Equity Residential news, CAO Ian Kaufman sold 5,075 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $67.75, for a total value of $343,831.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gerald A. Spector sold 13,024 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 71,177 shares of company stock valued at $4,787,379. 3.75% of the stock is owned by insiders.

Shares of EQR opened at $66.52 on Wednesday. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 3.29 and a beta of 0.40. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.85. Equity Residential has a 1 year low of $54.97 and a 1 year high of $70.46.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.23). The firm had revenue of $652.87 million during the quarter, compared to analysts’ expectations of $645.77 million. Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. Sell-side analysts anticipate 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 paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, September 21st. Equity Residential’s dividend payout ratio is currently 69.01%.

WARNING: This piece of content was originally published by Week Herald and is the property of of Week Herald. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://weekherald.com/2018/11/07/los-angeles-capital-management-equity-research-inc-has-36-67-million-stake-in-equity-residential-eqr.html.

About Equity Residential

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.

Featured Story: How to Invest in Growth Stocks

Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply