Equity Residential (EQR) Shares Bought by Land & Buildings Investment Management LLC
Land & Buildings Investment Management LLC lifted its position in Equity Residential (NYSE:EQR) by 81.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,600 shares of the real estate investment trust’s stock after acquiring an additional 205,400 shares during the period. Equity Residential makes up approximately 7.8% of Land & Buildings Investment Management LLC’s holdings, making the stock its 6th biggest holding. Land & Buildings Investment Management LLC owned 0.12% of Equity Residential worth $30,124,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in 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 worth $103,000 after acquiring an additional 872 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Equity Residential by 4.1% during the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 73 shares during the period. Sun Life Financial INC grew its holdings in Equity Residential by 22,450.0% during the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,694 shares during the period. Prudential PLC acquired a new position in Equity Residential during the second quarter valued at approximately $209,000. Finally, Girard Partners LTD. acquired a new position in Equity Residential during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
In other Equity Residential news, insider David S. Santee sold 10,967 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $67.93, for a total value of $744,988.31. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark S. Shapiro sold 2,853 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total value of $192,006.90. Following the completion of the transaction, the director now owns 2,573 shares in the company, valued at approximately $173,162.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,622 shares of company stock valued at $11,816,599. 3.79% of the stock is currently owned by company insiders.
EQR has been the subject of several recent analyst reports. Barclays PLC upped their target price on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Stifel Nicolaus began coverage on shares of Equity Residential in a research report on Friday, September 1st. They set a “hold” rating and a $71.00 price target on the stock. Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, June 16th. BidaskClub lowered shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $68.00 price target on shares of Equity Residential in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $68.15.
Shares of Equity Residential (NYSE:EQR) traded up 0.78% during mid-day trading on Wednesday, hitting $66.06. The stock had a trading volume of 512,514 shares. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The company has a market cap of $24.26 billion, a P/E ratio of 29.56 and a beta of 0.37. The firm’s 50 day moving average price is $67.12 and its 200 day moving average price is $65.89.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. Analysts predict that Equity Residential will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, September 25th will be paid a $0.5038 dividend. The ex-dividend date is Friday, September 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.07%. Equity Residential’s dividend payout ratio is presently 90.58%.
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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