14,268 Shares in Equity Residential (EQR) Acquired by Worldquant Millennium Quantitative Strategies LLC
Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of Equity Residential (NYSE:EQR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,268 shares of the real estate investment trust’s stock, valued at approximately $909,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Life Insurance Co. lifted its position in Equity Residential by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 19,456 shares of the real estate investment trust’s stock worth $1,239,000 after buying an additional 835 shares in the last quarter. Oakbrook Investments LLC raised its holdings in Equity Residential by 7.6% during the 2nd quarter. Oakbrook Investments LLC now owns 15,204 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 1,075 shares during the last quarter. Anchor Capital Advisors LLC raised its holdings in Equity Residential by 26.1% during the 1st quarter. Anchor Capital Advisors LLC now owns 5,415 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 1,120 shares during the last quarter. TD Asset Management Inc. raised its holdings in Equity Residential by 1.2% during the 2nd quarter. TD Asset Management Inc. now owns 105,423 shares of the real estate investment trust’s stock worth $6,714,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Equity Residential by 10.8% during the 1st quarter. Blair William & Co. IL now owns 12,946 shares of the real estate investment trust’s stock worth $798,000 after purchasing an additional 1,264 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.
In related news, CAO Ian Kaufman sold 5,075 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $67.75, for a total transaction of $343,831.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Neithercut sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $68.00, for a total value of $2,040,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,769 shares of company stock valued at $3,308,451. 3.75% of the stock is currently owned by company insiders.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The company had revenue of $639.62 million during the quarter, compared to analysts’ expectations of $637.34 million. Equity Residential had a return on equity of 5.63% and a net margin of 23.27%. Equity Residential’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. sell-side analysts expect that Equity Residential will post 3.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Monday, September 24th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.16%. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
Several analysts have weighed in on EQR shares. Mizuho reissued a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a report on Monday, August 6th. Bank of America boosted their price objective on Equity Residential from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, June 8th. ValuEngine cut Equity Residential from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Robert W. Baird reissued a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a report on Thursday, August 16th. Finally, Deutsche Bank boosted their price objective on Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Equity Residential presently has a consensus rating of “Hold” and an average target price of $67.57.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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