LGT Capital Partners LTD. Lowers Position in Equity Residential (NYSE:EQR)

LGT Capital Partners LTD. cut its holdings in Equity Residential (NYSE:EQRGet Rating) by 9.2% in the first quarter, Holdings Channel reports. The fund owned 83,350 shares of the real estate investment trust’s stock after selling 8,440 shares during the quarter. LGT Capital Partners LTD.’s holdings in Equity Residential were worth $7,495,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its stake in Equity Residential by 101.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 156,889 shares of the real estate investment trust’s stock worth $14,224,000 after acquiring an additional 78,835 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Equity Residential in the fourth quarter worth about $12,275,000. Websterrogers Financial Advisors LLC purchased a new stake in Equity Residential in the fourth quarter worth about $3,183,000. Redpoint Investment Management Pty Ltd lifted its stake in Equity Residential by 0.6% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 37,961 shares of the real estate investment trust’s stock worth $3,435,000 after acquiring an additional 228 shares during the period. Finally, LPL Financial LLC lifted its stake in Equity Residential by 5.7% in the third quarter. LPL Financial LLC now owns 43,757 shares of the real estate investment trust’s stock worth $3,541,000 after acquiring an additional 2,350 shares during the period. 91.43% of the stock is owned by institutional investors.

Shares of NYSE:EQR opened at $71.36 on Thursday. Equity Residential has a twelve month low of $67.48 and a twelve month high of $94.32. The company’s 50 day moving average is $78.06 and its 200 day moving average is $84.89. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.74. The company has a market cap of $26.83 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 3.14 and a beta of 0.82.

Equity Residential (NYSE:EQRGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. During the same quarter last year, the company posted $0.68 earnings per share. Equities research analysts predict that Equity Residential will post 3.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Monday, June 27th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 24th. This represents a $2.50 annualized dividend and a yield of 3.50%. Equity Residential’s dividend payout ratio (DPR) is presently 69.83%.

In related news, Director Mark S. Shapiro sold 6,665 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Several analysts have commented on the stock. Barclays decreased their price target on shares of Equity Residential from $97.00 to $83.00 in a research report on Tuesday, May 10th. Mizuho raised shares of Equity Residential from a “neutral” rating to a “buy” rating and decreased their price target for the company from $92.00 to $84.00 in a research report on Tuesday, May 17th. Morgan Stanley decreased their price target on shares of Equity Residential from $86.50 to $78.50 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Evercore ISI set a $86.00 price target on shares of Equity Residential in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Equity Residential from $94.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, March 24th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.03.

About Equity Residential (Get Rating)

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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

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