Gateway Investment Advisers LLC increased its stake in Equity Residential (NYSE: EQR – Get Rating) by 73.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission. The fund held 5,757 shares of the real estate investment trust after purchasing an additional 2,444 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Equity Residential were worth $518,000 at the end of the last reporting period.
Several other hedge funds have also recently changed their positions in EQR. LPL Financial LLC increased its equity stake in Equity Residential by 5.7% in the third quarter. LPL Financial LLC now owns 43,757 shares of the real estate investment trust valued at $3,541,000 after purchasing an additional 2,350 shares during the period. UBS Asset Management Americas Inc. increased its holding in Equity Residential shares by 0.9% in the third quarter. UBS Asset Management Americas Inc. now owns 3,122,087 shares of the real estate investment trust valued at $252,639,000 after purchasing an additional 28,440 shares during the period. Neville Rodie & Shaw Inc. increased its holdings of Equity Residential shares by 26.7% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 11,400 shares of the real estate investment trust valued at $1,032,000 after purchasing an additional 2,400 shares during the period. Lester Murray Antman dba SimplyRich acquired a new equity stake in Equity Residential in Q4, valued at approximately $901,000. Finally, DNB Asset Management AS increased its stake in Equity Residential by 5.4% during the fourth quarter. DNB Asset Management AS now owns 58,623 shares of the real estate investment trust worth $5,305,000 after purchasing an additional 3,014 shares in the last quarter. Institutional investors hold 91.43% of the company’s shares.
In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the company in a trade dated Friday, June 17. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. Following the transaction, the administrator now owns 12,497 shares of the company, valued at $876,039.70. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Insiders hold 2.30% of the shares of the company.
Several brokerages have recently published QRA reports. Barclays cut its price target on Equity Residential from $97.00 to $83.00 in a Tuesday May 10 report. Scotiabank cut its price target on Equity Residential from $92.00 to $90.00 in a Thursday, May 19 report. StockNews.com began covering Equity Residential in a report on Thursday, March 31. They set a “holding” rating for the company. Truist Financial cut its price target on Equity Residential from $85.00 to $79.00 and set a “hold” rating for the company in a report on Friday. Finally, Credit Suisse Group began covering Equity Residential in a report on Wednesday, June 22. They set an “outperform” rating and a price target of $80.00 for the company. Eleven investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, Equity Residential has a consensus rating of “Hold” and an average target price of $86.63.
EQR stock opened at $71.82 on Monday. The stock has a 50-day moving average price of $77.33 and a 200-day moving average price of $84.67. Equity Residential has a 12-month low of $67.48 and a 12-month high of $94.32. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt ratio of 0.74. The company has a market capitalization of $27.01 billion, a PE ratio of 20.06, a growth price-earnings ratio of 3.16 and a beta of 0.82.
Equity Residential (NYSE:EQR – Get Rating) last released its quarterly results on Tuesday, April 26. The REIT reported earnings per share (EPS) of $0.19 for the quarter, missing analyst consensus estimates of $0.80 per ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same period a year earlier, the company posted EPS of $0.68. Equity analysts expect Equity Residential to post an EPS of 3.45 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 8. Shareholders of record on Monday, June 27 will receive a dividend of $0.625 per share. This represents a dividend of $2.50 on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, June 24. Equity Residential’s dividend payout ratio is currently 69.83%.
About Equity Residential (Get an evaluation)
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.
Want to see which other hedge funds hold EQRs? Visit HoldingsChannel.com for the latest 13F filings and insider trades for Equity Residential (NYSE: EQR – Get Rating).
Receive news and reviews for Equity Residential Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for Equity Residential and related companies with MarketBeat.com’s free daily email newsletter.