Equity Residential (EQR) Shares Bought by Sun Life Financial INC
Sun Life Financial INC raised its holdings in Equity Residential (NYSE:EQR) by 22,450.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,706 shares of the real estate investment trust’s stock after buying an additional 2,694 shares during the quarter. Sun Life Financial INC’s holdings in Equity Residential were worth $178,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Aperio Group LLC grew its stake in shares of Equity Residential by 17.8% during the second quarter. Aperio Group LLC now owns 164,732 shares of the real estate investment trust’s stock worth $10,844,000 after acquiring an additional 24,926 shares during the last quarter. Colony Group LLC grew its position in Equity Residential by 45.0% during the 1st quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock worth $1,333,000 after purchasing an additional 6,646 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in Equity Residential by 7.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 343,887 shares of the real estate investment trust’s stock valued at $22,638,000 after purchasing an additional 25,300 shares in the last quarter. Land & Buildings Investment Management LLC acquired a new position in Equity Residential during the 1st quarter valued at approximately $15,692,000. Finally, Girard Partners LTD. acquired a new position in Equity Residential during the 2nd quarter valued at approximately $209,000. 91.06% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a report on Thursday, July 6th. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and set a $67.00 price target on shares of Equity Residential in a research note on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $68.15.
Shares of Equity Residential (EQR) traded up 0.053% during trading on Tuesday, reaching $65.635. 224,579 shares of the company’s stock were exchanged. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The stock has a 50 day moving average price of $67.19 and a 200-day moving average price of $65.88. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 29.367 and a beta of 0.37.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The company had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. During the same period in the previous year, the firm posted $0.76 EPS. Equity Residential’s revenue was up 2.9% on a year-over-year basis. Analysts predict that Equity Residential will post $1.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, September 25th will be given a $0.5038 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, September 22nd. Equity Residential’s dividend payout ratio is currently 90.58%.
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In other news, EVP Bruce C. Strohm sold 10,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $68.50, for a total transaction of $685,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael L. Manelis sold 433 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,622 shares of company stock valued at $11,816,599. Company insiders own 3.79% of the company’s stock.
Equity Residential Profile
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.
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