Great West Life Assurance Co. Can Sells 154,044 Shares of Equity Residential (NYSE:EQR)

Great West Life Assurance Co. Can lessened its stake in Equity Residential (NYSE:EQR) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 477,425 shares of the real estate investment trust’s stock after selling 154,044 shares during the period. Great West Life Assurance Co. Can’s holdings in Equity Residential were worth $36,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norinchukin Bank The grew its position in shares of Equity Residential by 0.4% in the 1st quarter. Norinchukin Bank The now owns 34,166 shares of the real estate investment trust’s stock valued at $2,447,000 after buying an additional 139 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Equity Residential by 12.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,276 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 145 shares during the period. Sandy Spring Bank raised its stake in Equity Residential by 62.4% during the 2nd quarter. Sandy Spring Bank now owns 406 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 156 shares during the period. Assetmark Inc. raised its stake in Equity Residential by 3.1% during the 1st quarter. Assetmark Inc. now owns 5,230 shares of the real estate investment trust’s stock worth $375,000 after buying an additional 157 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Equity Residential by 6.6% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 2,678 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

In related news, Director David J. Neithercut sold 1,721 shares of the firm’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $85.00, for a total value of $146,285.00. Following the sale, the director now directly owns 3,392 shares of the company’s stock, valued at $288,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Kay Haben sold 6,665 shares of Equity Residential stock in a transaction that occurred on Thursday, September 23rd. The shares were sold at an average price of $82.94, for a total value of $552,795.10. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

EQR has been the subject of several analyst reports. Evercore ISI raised Equity Residential from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $89.00 in a research note on Monday, September 20th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Friday, August 6th. Barclays began coverage on Equity Residential in a report on Wednesday, September 1st. They issued an “equal weight” rating and a $87.00 target price for the company. Mizuho lowered Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a report on Thursday, June 3rd. Finally, Morgan Stanley upped their target price on Equity Residential from $85.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.19.

Equity Residential stock opened at $81.54 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.22 and a quick ratio of 0.22. Equity Residential has a one year low of $45.42 and a one year high of $86.04. The firm has a market capitalization of $30.53 billion, a P/E ratio of 42.69, a PEG ratio of 7.53 and a beta of 0.78. The business has a fifty day moving average price of $83.15 and a 200-day moving average price of $78.26.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.14. Equity Residential had a return on equity of 6.75% and a net margin of 29.53%. The company had revenue of $598.06 million for the quarter, compared to the consensus estimate of $597.49 million. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Equity Residential will post 2.9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Monday, September 27th will be given a dividend of $0.6025 per share. The ex-dividend date is Friday, September 24th. This represents a $2.41 dividend on an annualized basis and a yield of 2.96%. Equity Residential’s payout ratio is 73.93%.

Equity Residential Profile

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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