American National Insurance Co. TX held its position in Equity Residential (NYSE:EQR) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,150 shares of the real estate investment trust’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Equity Residential were worth $3,367,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. increased its position in shares of Equity Residential by 525.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 61,036 shares of the real estate investment trust’s stock worth $4,018,000 after buying an additional 51,284 shares during the last quarter. National Pension Service boosted its stake in Equity Residential by 14.4% in the second quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock worth $24,039,000 after buying an additional 45,621 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Equity Residential by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock worth $2,967,000 after buying an additional 1,192 shares during the period. Nuveen Asset Management LLC boosted its stake in Equity Residential by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 2,445,378 shares of the real estate investment trust’s stock worth $152,151,000 after buying an additional 559,828 shares during the period. Finally, Piedmont Investment Advisors LLC boosted its stake in Equity Residential by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 75,596 shares of the real estate investment trust’s stock worth $4,704,000 after buying an additional 657 shares during the period. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Equity Residential (NYSE:EQR) traded down 0.15% during trading on Friday, hitting $66.98. 1,260,508 shares of the stock traded hands. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The firm has a market cap of $24.60 billion, a P/E ratio of 29.97 and a beta of 0.34. The company has a 50-day moving average of $66.58 and a 200-day moving average of $64.51.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. On average, analysts forecast that Equity Residential will post $1.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were paid a $0.5038 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Thursday, June 22nd. Equity Residential’s payout ratio is presently 90.58%.
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A number of analysts have recently weighed in on EQR shares. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Barclays PLC reissued an “equal weight” rating and issued a $64.00 price target (up previously from $62.00) on shares of Equity Residential in a report on Wednesday, April 19th. Evercore ISI boosted their price target on shares of Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, April 19th. Cantor Fitzgerald reissued a “hold” rating and issued a $63.00 price target on shares of Equity Residential in a report on Wednesday, April 26th. Finally, Argus set a $75.00 target price on shares of Equity Residential and gave the stock a “buy” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Equity Residential currently has a consensus rating of “Hold” and an average price target of $67.92.
In other news, insider David S. Santee sold 10,967 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $67.93, for a total value of $744,988.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total value of $29,023.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,124 shares of company stock valued at $3,945,054. 3.79% of the stock is currently owned by company insiders.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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