Dupont Capital Management Corp increased its position in Equity Residential (NYSE:EQR) by 32.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,336 shares of the real estate investment trust’s stock after purchasing an additional 18,869 shares during the quarter. Dupont Capital Management Corp’s holdings in Equity Residential were worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. raised its position in Equity Residential by 26.3% during the 1st quarter. Brown Advisory Inc. now owns 7,684 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 1,600 shares during the last quarter. IFM Investors Pty Ltd raised its position in Equity Residential by 48.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 16,485 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 5,376 shares during the last quarter. Fulton Bank N.A. bought a new position in Equity Residential during the 2nd quarter valued at approximately $221,000. Xact Kapitalforvaltning AB raised its position in Equity Residential by 26.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 74,370 shares of the real estate investment trust’s stock valued at $4,737,000 after purchasing an additional 15,400 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in Equity Residential during the 2nd quarter valued at approximately $578,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.
In related news, insider Michael L. Manelis sold 670 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.91, for a total transaction of $45,499.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gerald A. Spector sold 13,024 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total value of $879,120.00. Following the transaction, 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 have sold 83,676 shares of company stock valued at $5,627,937. 3.75% of the stock is owned by corporate insiders.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data 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). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company had revenue of $652.87 million for the quarter, compared to the consensus estimate of $645.77 million. During the same period last year, the business earned $0.37 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Equity Residential will post 3.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors 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 3.20%. The ex-dividend date of this dividend was Friday, September 21st. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
EQR has been the subject of several research reports. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Friday, October 26th. Stifel Nicolaus increased their target price on Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Argus increased their target price on Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. BMO Capital Markets increased their target price on Equity Residential from $68.00 to $69.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $70.00 target price on Equity Residential and gave the stock a “hold” rating in a research report on Thursday, November 1st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and a consensus target price of $68.69.
Equity Residential 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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