D. E. Shaw & Co. Inc. decreased its position in shares of Equity Residential (NYSE:EQR) by 45.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 169,905 shares of the real estate investment trust’s stock after selling 141,688 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Equity Residential were worth $11,215,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Equity Residential by 5.8% during the 4th quarter. BlackRock Inc. now owns 41,246,537 shares of the real estate investment trust’s stock worth $2,722,686,000 after buying an additional 2,256,566 shares during the period. Northern Trust Corp increased its stake in Equity Residential by 5.1% during the 4th quarter. Northern Trust Corp now owns 6,741,740 shares of the real estate investment trust’s stock worth $445,022,000 after buying an additional 324,960 shares during the period. Geode Capital Management LLC increased its stake in Equity Residential by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 6,088,423 shares of the real estate investment trust’s stock worth $401,342,000 after buying an additional 501,797 shares during the period. Morgan Stanley increased its stake in Equity Residential by 17.4% during the 3rd quarter. Morgan Stanley now owns 6,086,929 shares of the real estate investment trust’s stock worth $403,319,000 after buying an additional 901,037 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Equity Residential by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,758,455 shares of the real estate investment trust’s stock worth $381,556,000 after buying an additional 69,262 shares during the period. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Scott Fenster sold 475 shares of Equity Residential stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total value of $34,299.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bynoe sold 10,677 shares of Equity Residential stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $74.90, for a total transaction of $799,707.30. The disclosure for this sale can be found here. Insiders sold a total of 230,872 shares of company stock valued at $16,960,483 in the last three months. Insiders own 3.75% of the company’s stock.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.54). The company had revenue of $652.55 million during the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. Equity Residential’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities analysts expect that Equity Residential will post 3.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, March 25th will be given a $0.5675 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $2.27 annualized dividend and a dividend yield of 3.05%. This is an increase from Equity Residential’s previous quarterly dividend of $0.54. Equity Residential’s payout ratio is presently 69.85%.
Several equities research analysts recently issued reports on the stock. Argus lifted their price target on shares of Equity Residential to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Barclays reaffirmed a “hold” rating and set a $65.00 price target on shares of Equity Residential in a research note on Wednesday, January 23rd. BMO Capital Markets reissued a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research report on Tuesday, January 29th. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Morgan Stanley boosted their target price on shares of Equity Residential from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $70.85.
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Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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