Jupiter Asset Management Ltd. Makes New Investment in Equity Residential (NYSE:EQR)

Jupiter Asset Management Ltd. purchased a new position in Equity Residential (NYSE:EQR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,809 shares of the real estate investment trust’s stock, valued at approximately $293,000.

Several other large investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Equity Residential by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,939,314 shares of the real estate investment trust’s stock worth $1,356,623,000 after acquiring an additional 2,309,890 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Equity Residential by 0.6% during the first quarter. Geode Capital Management LLC now owns 6,723,904 shares of the real estate investment trust’s stock worth $480,491,000 after purchasing an additional 41,557 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Equity Residential by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 6,069,763 shares of the real estate investment trust’s stock worth $434,777,000 after purchasing an additional 24,569 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Equity Residential by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 3,669,046 shares of the real estate investment trust’s stock worth $262,814,000 after purchasing an additional 168,819 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Equity Residential by 11.3% during the first quarter. Boston Partners now owns 3,050,956 shares of the real estate investment trust’s stock worth $218,566,000 after purchasing an additional 309,571 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equity Residential from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Wednesday, May 26th. Royal Bank of Canada boosted their target price on shares of Equity Residential from $78.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 29th. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $72.00 to $89.00 in a research note on Tuesday, June 1st. Mizuho downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Thursday, June 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Equity Residential from $77.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.14.

In related news, Director David J. Neithercut sold 1,721 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $85.00, for a total transaction of $146,285.00. Following the completion of the transaction, the director now directly owns 3,392 shares of the company’s stock, valued at $288,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Shares of NYSE:EQR opened at $81.78 on Wednesday. The company has a 50-day simple moving average of $83.24 and a 200-day simple moving average of $77.66. Equity Residential has a one year low of $45.42 and a one year high of $86.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 42.82, a PEG ratio of 7.53 and a beta of 0.78.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 27th. The real estate investment trust reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.14. Equity Residential had a net margin of 29.53% and a return on equity of 6.75%. The business had revenue of $598.06 million during the quarter, compared to analysts’ expectations of $597.49 million. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. As a group, research analysts forecast that Equity Residential will post 2.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 9th. Stockholders of record on Monday, June 28th were issued a $0.6025 dividend. The ex-dividend date of this dividend was Friday, June 25th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 2.95%. Equity Residential’s payout ratio is 73.93%.

Equity Residential Profile

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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

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