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.
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%.
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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.
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