Residential propety

Hartford Investment Management Co. holds a $2.90 million position in Equity Residential (NYSE:EQR)


Hartford Investment Management Co. lowered its position in Equity Residential (NYSE: EQR – Get Rating) shares by 7.0% in the first quarter, Holdings Channel reports. The company held 32,273 shares of the real estate investment trust after selling 2,433 shares during the period. Hartford Investment Management Co.’s holdings in Equity Residential were worth $2,902,000 at the end of the last quarter.

A number of other hedge funds and other institutional investors have also recently changed their holdings in EQR. Allworth Financial LP acquired a new position in Equity Residential during the fourth quarter worth approximately $29,000. UMB Bank NA MO acquired a new equity position in Equity Residential in the fourth quarter worth approximately $30,000. CVA Family Office LLC acquired a new equity position in Equity Residential in the fourth quarter worth approximately $38,000. Creative Financial Designs Inc. ADV acquired a new equity position in Equity Residential in the fourth quarter worth approximately $44,000. Finally, Exane Derivatives increased its holding in Equity Residential shares by 1,231.1% in the fourth quarter. Exane Derivatives now owns 599 shares of the real estate investment trust valued at $54,000 after purchasing an additional 554 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s shares.

The QRA has been the subject of several reports by research analysts. Scotiabank cut its price target on Equity Residential shares from $92.00 to $90.00 in a Thursday, May 19 report. Evercore ISI set a price target of $86.00 on Equity Residential shares in a Monday, June 20 report. Morgan Stanley cut its price target on Equity Residential shares from $86.50 to $78.50 and set an “equal weight” rating for the company in a Wednesday, May 25 report. Deutsche Bank Aktiengesellschaft cut its price target on Equity Residential shares from $94.00 to $93.00 and set a “hold” rating on the stock in a Thursday, March 24 research report. Finally, Piper Sandler cut her price target on Equity Residential shares from $97.00 to $85.00 in a Wednesday May 4 research report. Twelve equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, Equity Residential has a consensus rating of “Hold” and an average target price of $84.91.

Separately, director Mark S. Shapiro sold 6,665 shares in a trade dated Friday, June 17. The shares were sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now directly owns 12,497 shares of the company, valued at $876,039.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 2.30% of the shares are held by insiders.

NYSE EQR opened at $72.93 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt ratio of 0.74. The company’s fifty-day moving average price is $75.44 and its two-hundred-day moving average price is $84.16. Equity Residential has a 1-year low of $67.48 and a 1-year high of $94.32. The company has a market capitalization of $27.42 billion, a P/E ratio of 20.37, a price-to-earnings growth ratio of 3.19 and a beta of 0.81.

Equity Residential (NYSE:EQR – Get Rating) last released quarterly results on Tuesday, April 26. The real estate investment trust reported earnings per share (EPS) of $0.19 for the quarter, missing the consensus estimate of $0.80 per ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. In the same quarter of the previous year, the company achieved EPS of $0.68. On average, research analysts expect Equity Residential to post 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. This represents an annualized dividend of $2.50 and a dividend yield of 3.43%. The ex-dividend date is Friday, June 24. Equity Residential’s payout ratio is currently 69.83%.

Residential Equity 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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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).

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



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