Equity Residential (EQR) Position Decreased by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. lowered its stake in shares of Equity Residential (NYSE:EQR) by 37.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 933,943 shares of the real estate investment trust’s stock after selling 565,500 shares during the period. Duff & Phelps Investment Management Co. owned about 0.26% of Equity Residential worth $64,330,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Heitman Real Estate Securities LLC boosted its position in Equity Residential by 262.6% in the first quarter. Heitman Real Estate Securities LLC now owns 2,367,704 shares of the real estate investment trust’s stock valued at $177,649,000 after buying an additional 1,714,728 shares during the period. Bank of Montreal Can acquired a new position in Equity Residential during the second quarter valued at $57,696,000. Nuveen Asset Management LLC boosted its position in Equity Residential by 13.0% in the first quarter. Nuveen Asset Management LLC now owns 3,493,753 shares of the real estate investment trust’s stock valued at $262,136,000 after buying an additional 401,976 shares during the period. Sentry Investments Corp. acquired a new position in Equity Residential during the first quarter valued at $27,761,000. Finally, 1832 Asset Management L.P. boosted its position in Equity Residential by 549.0% in the first quarter. 1832 Asset Management L.P. now owns 331,000 shares of the real estate investment trust’s stock valued at $41,695,000 after buying an additional 280,000 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.
Equity Residential (NYSE:EQR) traded up 0.26% during mid-day trading on Wednesday, hitting $61.24. The stock had a trading volume of 2,720,136 shares. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 5.34 and a beta of 0.49. The firm’s 50-day moving average is $63.44 and its 200 day moving average is $67.15. Equity Residential has a 12 month low of $60.25 and a 12 month high of $82.39.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.02. Equity Residential had a net margin of 160.96% and a return on equity of 38.79%. The company earned $595.20 million during the quarter, compared to the consensus estimate of $609.82 million. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Equity Residential will post $3.08 EPS for the current fiscal year.
The business also recently announced a special dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, September 26th were issued a $3.00 dividend. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a dividend yield of 3.17%. Equity Residential’s dividend payout ratio is presently 17.67%.
A number of equities research analysts recently issued reports on EQR shares. Capital One Financial Corp. lowered Equity Residential from an “overweight” rating to an “equal weight” rating in a research report on Monday, August 1st. Citigroup Inc. reissued a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research report on Friday, September 30th. Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. BTIG Research started coverage on Equity Residential in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley lowered Equity Residential from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $76.00 to $60.00 in a research report on Wednesday, August 3rd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $72.53.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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