Hartford Investment Management Co. lowered its position in shares of Equity Residential (NYSE:EQR – Get Rating ) by 7.0% during the first quarter, Holdings Channel reports. The firm owned 32,273 shares of the real estate investment trust’s stock after selling 2,433 shares during the period. Hartford Investment Management Co.’s holdings. in Equity Residential were worth $2,902,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EQR. Allworth Financial LP acquired a new position in Equity Residential during the fourth quarter valued at approximately $29,000. UMB Bank NA MO acquired a new position in shares of Equity Residential during the fourth quarter valued at approximately $30,000. CVA Family Office LLC acquired a new position in shares of of Equity Residential in the fourth quarter valued at approximately $38,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Equity Residential during the fourth quarter valued at approximately $44,000. Finally, Exane Derivatives boosted its holdings in shares of Equity Residential by 1,231.1% during the fourth quarter. Exane Derivatives now owns 599 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 554 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s shares.
EQR has been the subject of several analyst reports. Scotiabank cut their target price on shares of Equity Residential from $92.00 to $90.00 in a report on Thursday, May 19th. Evercore ISI set a $86.00 target price on shares of Equity Residential in a report on Monday, June 20th. Morgan Stanley reduced their price objective on shares of Equity Residential from $86.50 to $78.50 and set an “equal weight” rating for the company in a report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Equity Residential from $94.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, March 24th. Finally, Piper Sandler decreased their price objective on shares of Equity Residential from $97.00 to $85.00 in a research report on Wednesday, May 4th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and an average target price of $84.91, according to MarketBeat.
In other news, Director Mark S. Shapiro sold 6,665 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now directly owns 12,497 shares of the company’s stock, valued at $876,039.70. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. 2.30% of shares are owned by corporate insiders.
NYSE EQR opened at $72.93 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19, and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $75.44 and its two hundred day moving average is $84.16. Equity Residential has a 1 year low of $67.48 and a 1 year high of $94.32. The firm has a market cap of $27.42 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.81.
Equity Residential (NYSE:EQR – Get Rating ) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. During the same quarter in the previous year, the business earned $0.68 EPS. On average, research analysts expect that Equity Residential will post 3.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Monday, June 27th will be given a $0.625 dividend. This represents a $2.50 annual dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, June 24th. Equity Residential’s payout ratio is currently 69.83%.
Own housing profile (Get Rating)
Equity Residential is committed to creating communities where people thrive. The company, a member of the S&P 500, focuses on the acquisition, development and management of residential properties located in and around dynamic cities that attract high-quality long-term tenants. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartments located in Boston, New York, Washington, Seattle, San Francisco, Southern California and Denver.
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