Principal Financial Group Inc. cut its position in Equity Residential (NYSE:EQR) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,306,491 shares of the real estate investment trust’s stock after selling 31,837 shares during the period. Principal Financial Group Inc.’s holdings in Equity Residential were worth $152,251,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Equity Residential during the fourth quarter worth approximately $25,000. Rational Advisors LLC bought a new stake in Equity Residential in the fourth quarter valued at approximately $31,000. Braun Bostich & Associates Inc. increased its stake in Equity Residential by 38.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Equity Residential by 6,420.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,632,545 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 2,592,169 shares in the last quarter. Finally, Enlightenment Research LLC bought a new stake in Equity Residential in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.22% of the company’s stock.
Several brokerages have commented on EQR. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Monday. Argus increased their price objective on shares of Equity Residential to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. BMO Capital Markets reissued a “hold” rating and set a $69.00 price objective on shares of Equity Residential in a research report on Tuesday, January 29th. Mizuho downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a research report on Wednesday, January 23rd. Finally, Barclays reissued a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research report on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.33.
Shares of EQR opened at $73.98 on Tuesday. Equity Residential has a 12 month low of $57.96 and a 12 month high of $75.65. The firm has a market cap of $27.66 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 3.73 and a beta of 0.59. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.85.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.54). The business had revenue of $652.55 million for the quarter, compared to analyst estimates of $652.35 million. Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, equities research analysts predict that Equity Residential will post 3.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Monday, March 25th will be paid a $0.5675 dividend. The ex-dividend date is Friday, March 22nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.07%. This is a boost from Equity Residential’s previous quarterly dividend of $0.54. Equity Residential’s dividend payout ratio (DPR) is currently 66.46%.
Equity Residential Company 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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