UBS Asset Management Americas Inc. raised its position in Equity Residential (NYSE:EQR) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,341,284 shares of the real estate investment trust’s stock after purchasing an additional 28,192 shares during the quarter. UBS Asset Management Americas Inc. owned 0.63% of Equity Residential worth $177,750,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Equity Residential during the second quarter worth about $34,000. Advisory Services Network LLC raised its position in shares of Equity Residential by 14.9% during the second quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 457 shares during the last quarter. Tiemann Investment Advisors LLC bought a new position in shares of Equity Residential during the first quarter worth about $204,000. Cibc World Markets Corp increased its holdings in Equity Residential by 31.4% in the second quarter. Cibc World Markets Corp now owns 64,380 shares of the real estate investment trust’s stock worth $4,888,000 after purchasing an additional 15,393 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Equity Residential by 0.4% in the first quarter. Northern Trust Corp now owns 6,770,425 shares of the real estate investment trust’s stock worth $509,949,000 after purchasing an additional 28,685 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, August 12th. Morgan Stanley raised their price objective on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, SunTrust Banks raised their price objective on Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Equity Residential has an average rating of “Hold” and an average price target of $77.97.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The firm had revenue of $669.37 million during the quarter, compared to analyst estimates of $667.59 million. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Equity Residential will post 3.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Equity Residential’s previous quarterly dividend of $0.57. Equity Residential’s dividend payout ratio (DPR) is 69.85%.
In related news, EVP Christa L. Sorenson sold 400 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $78.33, for a total transaction of $31,332.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan W. George sold 10,000 shares of Equity Residential stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $84.60, for a total value of $846,000.00. Following the transaction, the executive vice president now directly owns 31,280 shares in the company, valued at approximately $2,646,288. The disclosure for this sale can be found here. Insiders sold 186,876 shares of company stock valued at $15,221,779 in the last three months. Insiders own 2.40% of the company’s stock.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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