Residential propety

DAVENPORT & Co LLC increases its position in Equity Residential (NYSE:EQR)


DAVENPORT & Co LLC increased its position in Equity Residential stocks (NYSE: EQR – Get Rating) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund held 2,872 shares of the real estate investment trust after buying an additional 289 shares during the quarter. DAVENPORT & Co LLC’s holdings in Equity Residential were worth $258,000 when it last filed with the Securities & Exchange Commission.

Other institutional investors have also recently changed their positions in the company. DekaBank Deutsche Girozentrale increased its holdings of Equity Residential shares by 101.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 156,889 shares of the real estate investment trust worth $14,224,000 after purchasing an additional 78,835 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new equity stake in Equity Residential during the fourth quarter, valued at approximately $12,275,000. 180 Wealth Advisors LLC purchased a new equity stake in Equity Residential during the first quarter, valued at approximately $200,000. Inspire Investing LLC bought a new position in Equity Residential during the first quarter worth approximately $4,234,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Equity Residential during the first quarter worth approximately $214,000. Hedge funds and other institutional investors own 91.43% of the company’s shares.

Analyst upgrades and downgrades

A number of research analysts have weighed in on the stock recently. Morgan Stanley lowered its price target on Equity Residential shares from $78.50 to $75.00 and set an “equal weight” rating on the stock in a Friday, July 15 research report. Barclays lowered its price target on Equity Residential shares from $97.00 to $83.00 in a Tuesday May 10 research report. Credit Suisse Group assumed equity coverage of Equity Residential in a Wednesday, June 22 research report. They set an “outperform” rating and a price target of $80.00 for the stock. Scotiabank lowered its price target on Equity Residential shares from $92.00 to $90.00 in a Thursday, May 19 research report. Finally, Evercore ISI set a price target of $86.00 on Equity Residential shares in a Monday, June 20 research report. One equity research analyst has assigned the stock a sell rating, twelve have issued a hold rating and five have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.75.

Insider Activity at Equity Residential

Separately, director Mark S. Shapiro sold 6,665 shares of the company in a trade on Friday, June 17. The shares were sold at an average price of $70.10, for a total transaction of $467,216.50. Following completion of the transaction, the administrator now directly owns 12,497 shares of the company, valued at $876,039.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 2.30% of the shares are currently held by company insiders.

Residential equity inventory up 3.0%

Shares of EQR opened at $75.71 on Thursday. The company has a market capitalization of $28.47 billion, a price-earnings ratio of 21.15, a PEG ratio of 3.22 and a beta of 0.81. Equity Residential has a one-year low of $67.48 and a one-year high of $94.32. The company’s fifty-day moving average price is $73.03 and its 200-day moving average price is $82.04. The company has a debt ratio of 0.74, a current ratio of 0.19 and a quick ratio of 0.19.

Equity Residential (NYSE:EQR – Get Rating) last reported quarterly earnings data on Tuesday, April 26. The real estate investment trust reported EPS of $0.19 for the quarter, missing the consensus estimate of $0.80 per ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. In the same quarter of the previous year, the company achieved EPS of $0.68. Sell-side analysts expect Equity Residential to post EPS of 3.45 for the current fiscal year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 8. Investors of record on Monday, June 27 received a dividend of $0.625 per share. The ex-dividend date was Friday, June 24. This represents an annualized dividend of $2.50 and a yield of 3.30%. Equity Residential’s payout rate is 69.83%.

Residential Equity Business Profile

(Get a rating)

Equity Residential is committed to creating communities where people thrive. The Company, an S&P 500 member, is focused on acquiring, developing and managing residential properties located in and around vibrant cities that attract high-quality, long-term tenants. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartments, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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



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