Residential propety

Hennion & Walsh Asset Management Inc. invests $214,000 in Equity Residential (NYSE:EQR)


Hennion & Walsh Asset Management Inc. bought a new position in Equity Residential (NYSE:EQR – Get Rating) during the first quarter, Holdings Channel reports. The fund bought 2,381 shares of the real estate investment trust, valued at around $214,000.

A number of other hedge funds and other institutional investors have also recently changed their holdings in the company. BlackRock Inc. increased its position in Equity Residential shares by 3.8% in the fourth quarter. BlackRock Inc. now owns 39,022,849 shares of the real estate investment trust worth $3,531,569,000 after purchasing an additional 1,445,519 shares during the period. Norges Bank bought a new stake in shares of Equity Residential in the 4th quarter for a value of approximately $2,729,361,000. State Street Corp increased its position in Equity Residential shares by 7.6% in the fourth quarter. State Street Corp now owns 23,284,521 shares of the real estate investment trust worth $2,121,056,000 after purchasing an additional 1,650,178 shares during the period. Bank of America Corp DE increased its position in Equity Residential shares by 1.7% in the fourth quarter. Bank of America Corp DE now owns 11,610,191 shares of the real estate investment trust worth $1,050,722,000 after purchasing an additional 193,315 shares during the period. Lastly, Geode Capital Management LLC increased its position in Equity Residential shares by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 7,132,900 shares of the real estate investment trust worth $644,029,000 after purchasing an additional 127,759 shares during the period. 91.43% of the shares are held by hedge funds and other institutional investors.

Insider Trading at Equity Residential

In other news, Director Mark S. Shapiro sold 6,665 shares in a trade that took place on Friday, June 17. The shares were sold at an average price of $70.10, for a total value of $467,216.50. As a result of the transaction, the administrator now owns 12,497 shares of the company, valued at approximately $876,039.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders of the company hold 2.30% of the shares of the company.

Performance of residential stocks

Shares of NYSE EQR opened at $71.32 on Friday. The company’s 50-day moving average price is $73.20 and its 200-day moving average price is $83.03. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt ratio of 0.74. The company has a market capitalization of $26.82 billion, a PE ratio of 19.92, a PEG ratio of 3.12 and a beta of 0.81. Equity Residential has a 52-week low of $67.48 and a 52-week high of $94.32.

Equity Residential (NYSE:EQR – Get Rating) last reported 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%. In the same quarter a year earlier, the company posted EPS of $0.68. As a group, analysts expect Equity Residential to post year-to-date EPS of 3.45.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Monday, June 27 received a dividend of $0.625. This represents an annualized dividend of $2.50 and a dividend yield of 3.51%. The ex-dividend date was Friday, June 24. Equity Residential’s dividend payout ratio (DPR) is currently 69.83%.

Analyst upgrades and downgrades

Several analysts have recently commented on EQR’s stock. Credit Suisse Group began covering Equity Residential stocks in a research report on Wednesday, June 22. They set an “outperform” rating and a price target of $80.00 for the stock. Royal Bank of Canada has upgraded Equity Residential shares from an ‘sector performer’ rating to an ‘outperformer’ rating and cut its price target for the company from $95.00 to 79.00 $ in a research report from Wednesday, June 22. Evercore ISI set a price target of $86.00 on Equity Residential shares in a Monday, June 20 research report. Jefferies Financial Group cut its price target on Equity Residential shares from $78.00 to $64.00 and set a “hold” rating on the stock in a Thursday, June 30 research report. Finally, TheStreet downgraded the shares of Equity Residential from a “b” rating to a “c+” rating in a Friday, May 6 research report. Twelve investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, Equity Residential currently has a consensus rating of “Hold” and an average price target of $84.25.

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.

See also

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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