Goodwin Daniel L boosted its stake in Equity Residential (NYSE:EQR) by 147.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,164 shares of the real estate investment trust’s stock after buying an additional 15,000 shares during the period. Equity Residential makes up approximately 0.6% of Goodwin Daniel L’s portfolio, making the stock its 22nd largest position. Goodwin Daniel L’s holdings in Equity Residential were worth $1,733,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of EQR. Huntington National Bank increased its position in shares of Equity Residential by 11.6% in the second quarter. Huntington National Bank now owns 6,218 shares of the real estate investment trust’s stock valued at $428,000 after buying an additional 647 shares in the last quarter. Northpointe Capital LLC purchased a new position in shares of Equity Residential during the second quarter valued at about $3,623,000. First National Trust Co. increased its position in shares of Equity Residential by 18.9% in the second quarter. First National Trust Co. now owns 9,877 shares of the real estate investment trust’s stock valued at $680,000 after buying an additional 1,567 shares in the last quarter. ING Groep NV purchased a new position in shares of Equity Residential during the second quarter valued at about $891,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Equity Residential by 427.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 108,718 shares of the real estate investment trust’s stock valued at $7,489,000 after buying an additional 88,093 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.
Equity Residential (NYSE:EQR) traded down 1.27% during trading on Tuesday, reaching $62.29. 2,026,746 shares of the company traded hands. Equity Residential has a 52 week low of $62.17 and a 52 week high of $82.39. The firm has a 50-day moving average price of $64.78 and a 200-day moving average price of $68.11. The company has a market capitalization of $22.77 billion, a P/E ratio of 5.43 and a beta of 0.49.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.76 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 business had revenue of $595.20 million for the quarter, compared to analyst estimates of $609.82 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Analysts forecast that Equity Residential will post $3.08 earnings per share for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be paid a dividend of $3.00 per share. This represents a yield of 3.17%. The ex-dividend date is Thursday, September 22nd. Equity Residential’s payout ratio is 17.67%.
EQR has been the topic of a number of research analyst reports. BTIG Research initiated coverage on shares of Equity Residential in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Jefferies Group restated a “hold” rating on shares of Equity Residential in a research report on Tuesday, September 13th. Citigroup Inc. lowered their price objective on shares of Equity Residential from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Deutsche Bank AG restated a “hold” rating and set a $74.00 price objective (up previously from $73.00) on shares of Equity Residential in a research report on Monday, July 18th. Finally, Zelman & Associates downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and a consensus price target of $72.53.
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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