Wellington Management Group LLP reduced its stake in shares of Equity Residential (NYSE:EQR) by 69.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,213 shares of the real estate investment trust’s stock after selling 11,748 shares during the quarter. Wellington Management Group LLP’s holdings in Equity Residential were worth $322,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of EQR. First Horizon Advisors Inc. grew its stake in Equity Residential by 111.1% during the 1st quarter. First Horizon Advisors Inc. now owns 477 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 251 shares during the last quarter. TFG Advisers LLC bought a new position in shares of Equity Residential in the fourth quarter worth $33,000. WASHINGTON TRUST Co bought a new position in shares of Equity Residential in the first quarter worth $42,000. Ellevest Inc. grew its stake in shares of Equity Residential by 68.1% in the first quarter. Ellevest Inc. now owns 765 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 310 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Equity Residential by 77.9% in the fourth quarter. Quadrant Capital Group LLC now owns 813 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.
Several research analysts have recently issued reports on the company. Deutsche Bank decreased their price target on Equity Residential from $76.00 to $68.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Robert W. Baird raised Equity Residential from an “underperform” rating to a “neutral” rating and set a $73.00 price target for the company in a research note on Tuesday, March 17th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating in a report on Monday, May 18th. Royal Bank of Canada restated a “hold” rating and issued a $85.00 price objective on shares of Equity Residential in a report on Monday, March 9th. Finally, SunTrust Banks cut their price objective on Equity Residential from $82.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.73.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). The business had revenue of $682.31 million during the quarter, compared to analysts’ expectations of $686.02 million. Equity Residential had a return on equity of 11.20% and a net margin of 43.16%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. On average, equities analysts forecast that Equity Residential will post 3.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, June 19th. Equity Residential’s dividend payout ratio is currently 69.05%.
Equity Residential Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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