Neuberger Berman Group LLC Grows Stake in Equity Residential (EQR)

Neuberger Berman Group LLC grew its stake in shares of Equity Residential (NYSE:EQR) by 15.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 653,203 shares of the real estate investment trust’s stock after acquiring an additional 88,409 shares during the period. Neuberger Berman Group LLC owned about 0.18% of Equity Residential worth $43,066,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of Equity Residential by 124.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 872 shares during the period. D.A. Davidson & CO. boosted its holdings in Equity Residential by 4.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 73 shares during the period. Amica Retiree Medical Trust bought a new position in Equity Residential in the 3rd quarter worth approximately $135,000. Zions Bancorporation boosted its holdings in Equity Residential by 3,348.4% in the 3rd quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 2,076 shares during the period. Finally, Sun Life Financial INC boosted its holdings in Equity Residential by 22,450.0% in the 2nd quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 2,694 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

Shares of Equity Residential (EQR) opened at $64.30 on Wednesday. Equity Residential has a 52 week low of $59.49 and a 52 week high of $70.46. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86. The stock has a market cap of $24,107.00, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.36.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be paid a $0.5038 dividend. This represents a $2.02 annualized dividend and a yield of 3.13%. Equity Residential’s dividend payout ratio is presently 99.02%.

Several research firms recently commented on EQR. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Equity Residential in a report on Friday, November 10th. Mizuho raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, November 6th. Jefferies Group reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Equity Residential in a report on Sunday, September 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Equity Residential in a report on Monday, November 27th. Finally, Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Equity Residential has a consensus rating of “Hold” and a consensus target price of $69.47.

In other Equity Residential news, Chairman Samuel Zell sold 91,651 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $67.17, for a total value of $6,156,197.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander Brackenridge sold 6,497 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $69.41, for a total transaction of $450,956.77. The disclosure for this sale can be found here. Insiders sold a total of 402,380 shares of company stock worth $27,663,622 over the last quarter. Corporate insiders own 3.79% of the company’s stock.

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About Equity Residential

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

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

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