Calamos Advisors LLC Reduces Stake in Equity Residential (EQR)

Calamos Advisors LLC decreased its holdings in shares of Equity Residential (NYSE:EQR) by 93.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,050 shares of the real estate investment trust’s stock after selling 42,607 shares during the quarter. Calamos Advisors LLC’s holdings in Equity Residential were worth $202,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sumitomo Life Insurance Co. grew its holdings in shares of Equity Residential by 4.5% during the second quarter. Sumitomo Life Insurance Co. now owns 19,456 shares of the real estate investment trust’s stock worth $1,239,000 after buying an additional 835 shares in the last quarter. Oakbrook Investments LLC grew its holdings in shares of Equity Residential by 7.6% during the second quarter. Oakbrook Investments LLC now owns 15,204 shares of the real estate investment trust’s stock worth $968,000 after buying an additional 1,075 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Equity Residential by 1.2% during the second quarter. TD Asset Management Inc. now owns 105,423 shares of the real estate investment trust’s stock worth $6,714,000 after buying an additional 1,233 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of Equity Residential by 8.6% during the first quarter. Suntrust Banks Inc. now owns 17,950 shares of the real estate investment trust’s stock worth $1,104,000 after buying an additional 1,415 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Equity Residential by 9.8% during the second quarter. Advisors Asset Management Inc. now owns 15,939 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 1,419 shares in the last quarter. 87.34% of the stock is owned by institutional investors and hedge funds.

In other Equity Residential news, insider Michael L. Manelis sold 670 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total value of $45,499.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David J. Neithercut sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $68.00, for a total transaction of $2,040,000.00. The disclosure for this sale can be found here. Insiders sold 68,769 shares of company stock worth $4,628,451 in the last ninety days. 3.75% of the stock is currently owned by corporate insiders.



Shares of EQR stock opened at $66.22 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.16 and a current ratio of 0.13. The stock has a market cap of $23.88 billion, a PE ratio of 21.16, a PEG ratio of 3.34 and a beta of 0.37. Equity Residential has a twelve month low of $54.97 and a twelve month high of $70.46.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.23). The firm had revenue of $652.87 million for the quarter, compared to analyst estimates of $645.77 million. Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. As a group, analysts forecast that Equity Residential will post 3.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Monday, September 24th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 21st. This represents a $2.16 dividend on an annualized basis and a yield of 3.26%. Equity Residential’s payout ratio is currently 69.01%.

A number of equities research analysts have recently issued reports on EQR shares. Mizuho reaffirmed a “buy” rating and set a $76.00 target price on shares of Equity Residential in a report on Monday, August 6th. Scotiabank assumed coverage on shares of Equity Residential in a research report on Tuesday, October 16th. They set an “outperform” rating on the stock. Robert W. Baird reissued a “hold” rating and set a $66.00 price target on shares of Equity Residential in a research report on Thursday, August 16th. Deutsche Bank boosted their price target on shares of Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $68.43.

Equity Residential Company 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.

See Also: Earnings Reports

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

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