Candriam Luxembourg S.C.A. raised its position in Equity Residential (NYSE:EQR) by 427.1% during the second quarter, Holdings Channel reports. The fund owned 108,718 shares of the real estate investment trust’s stock after buying an additional 88,093 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Equity Residential were worth $7,489,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Conning Inc. raised its stake in shares of Equity Residential by 1.1% in the second quarter. Conning Inc. now owns 11,125 shares of the real estate investment trust’s stock worth $766,000 after buying an additional 120 shares during the last quarter. Bank of Montreal Can purchased a new stake in Equity Residential during the second quarter worth approximately $57,696,000. Shell Asset Management Co. raised its stake in Equity Residential by 4.9% in the second quarter. Shell Asset Management Co. now owns 223,017 shares of the real estate investment trust’s stock worth $15,361,000 after buying an additional 10,327 shares in the last quarter. Sanders Morris Harris Inc. raised its stake in Equity Residential by 21.2% in the second quarter. Sanders Morris Harris Inc. now owns 11,800 shares of the real estate investment trust’s stock worth $812,000 after buying an additional 2,065 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Equity Residential by 5.5% in the second quarter. New York State Teachers Retirement System now owns 661,408 shares of the real estate investment trust’s stock worth $45,558,000 after buying an additional 34,234 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.
Shares of Equity Residential (NYSE:EQR) traded up 0.14% during trading on Tuesday, reaching $64.58. 3,298,005 shares of the company were exchanged. The firm has a market capitalization of $23.61 billion, a P/E ratio of 5.63 and a beta of 0.64. The firm’s 50 day moving average is $65.10 and its 200 day moving average is $68.37. Equity Residential has a 1-year low of $62.39 and a 1-year 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 (EPS) for the quarter, missing the 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 analysts’ expectations of $609.82 million. During the same quarter last year, the firm earned $0.85 EPS. Equity Residential’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, 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 will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a yield of 3.17%. Equity Residential’s dividend payout ratio (DPR) is presently 17.67%.
A number of equities research analysts recently commented on EQR shares. BTIG Research started coverage on shares of Equity Residential in a report on Thursday, August 25th. They set a “neutral” rating for the company. Jefferies Group reiterated a “hold” rating on shares of Equity Residential in a report on Tuesday, September 13th. BMO Capital Markets reiterated a “buy” rating on shares of Equity Residential in a report on Wednesday, June 1st. Citigroup Inc. lowered their price target on shares of Equity Residential from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $73.00 price target (down from $74.00) on shares of Equity Residential in a report on Friday, June 3rd. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Equity Residential presently has an average rating of “Hold” and a consensus target price of $72.72.
About Equity Residential
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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