Texas Permanent School Fund reduced its position in Equity Residential (NYSE:EQR) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,675 shares of the real estate investment trust’s stock after selling 7,179 shares during the period. Texas Permanent School Fund’s holdings in Equity Residential were worth $5,478,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EQR. IFM Investors Pty Ltd lifted its stake in Equity Residential by 14.2% in the third quarter. IFM Investors Pty Ltd now owns 18,833 shares of the real estate investment trust’s stock valued at $1,248,000 after acquiring an additional 2,348 shares during the last quarter. Oakbrook Investments LLC lifted its stake in Equity Residential by 36.8% in the third quarter. Oakbrook Investments LLC now owns 20,804 shares of the real estate investment trust’s stock valued at $1,378,000 after acquiring an additional 5,600 shares during the last quarter. Aperio Group LLC lifted its stake in Equity Residential by 6.1% in the third quarter. Aperio Group LLC now owns 128,238 shares of the real estate investment trust’s stock valued at $8,497,000 after acquiring an additional 7,342 shares during the last quarter. First Hawaiian Bank acquired a new stake in Equity Residential in the third quarter valued at approximately $585,000. Finally, Bank of Montreal Can lifted its stake in Equity Residential by 31.7% in the third quarter. Bank of Montreal Can now owns 404,399 shares of the real estate investment trust’s stock valued at $26,796,000 after acquiring an additional 97,445 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman Gerald A. Spector sold 13,024 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total transaction of $879,120.00. Following the transaction, the insider now owns 294,287 shares of the company’s stock, valued at $19,864,372.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Manelis sold 670 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.91, for a total transaction of $45,499.70. The disclosure for this sale can be found here. Insiders have sold 48,769 shares of company stock worth $3,308,451 in the last ninety days. 3.75% of the stock is currently owned by insiders.
Shares of Equity Residential stock opened at $64.84 on Friday. The company has a quick ratio of 0.16, 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. The firm has a market capitalization of $24.33 billion, a PE ratio of 20.39, a PEG ratio of 3.41 and a beta of 0.37.
Equity Residential (NYSE:EQR) last issued 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 return on equity of 6.37% and a net margin of 26.01%. The firm had revenue of $652.87 million during the quarter, compared to analyst estimates of $645.77 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equity Residential’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Equity Residential will post 3.26 EPS for the current year.
The business also recently announced 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 3.33%. The ex-dividend date was Friday, September 21st. Equity Residential’s dividend payout ratio (DPR) is currently 69.01%.
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.
Read More: Diversification Important in Investing
Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.