Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Equity Residential (NYSE:EQR – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 440 shares of the real estate investment trust’s stock, valued at approximately $40,000.
Several other large investors have also bought and sold shares of the stock. Nelson Capital Management LLC raised its position in Equity Residential by 2.9% during the 1st quarter. Nelson Capital Management LLC now owns 32,108 shares of the real estate investment trust’s stock worth $2,887,000 after purchasing an additional 915 shares during the last quarter. DAVENPORT & Co LLC raised its position in Equity Residential by 11.2% during the 1st quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 289 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Equity Residential by 1.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 45,607 shares of the real estate investment trust’s stock worth $4,101,000 after acquiring an additional 546 shares in the last quarter. Forward Management LLC bought a new position in shares of Equity Residential in the 1st quarter worth about $1,798,000. Finally, Jones Financial Companies Lllp raised its position in shares of Equity Residential by 14.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,440 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 183 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
Insider Buying and Selling at Equity Residential
In other news, Director Mark S. Shapiro sold 6,665 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.
Wall Street Analyst Weigh In
EQR has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Equity Residential from $78.50 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Jefferies Financial Group lowered their price objective on Equity Residential from $78.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Scotiabank lowered their price objective on Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. TheStreet lowered Equity Residential from a “b” rating to a “c+” rating in a research report on Friday, May 6th. Finally, Truist Financial lowered their price objective on Equity Residential from $85.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.75.
Equity Residential Price Performance
EQR stock opened at $73.50 on Tuesday. The company has a market capitalization of $27.64 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.19 and a current ratio of 0.19. Equity Residential has a 52-week low of $67.48 and a 52-week high of $94.32. The business has a 50-day simple moving average of $73.03 and a two-hundred day simple moving average of $82.15.
Equity Residential (NYSE:EQR – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same period last year, the company posted $0.68 EPS. Research analysts expect that Equity Residential will post 3.45 EPS for the current fiscal year.
Equity Residential Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were paid a dividend of $0.625 per share. The ex-dividend date was Friday, June 24th. This represents a $2.50 dividend on an annualized basis and a yield of 3.40%. Equity Residential’s dividend payout ratio (DPR) is currently 69.83%.
About Equity Residential
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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