Baillie Gifford & Co. Buys 4,269 Shares of Equity Residential (NYSE:EQR)

Baillie Gifford & Co. raised its stake in shares of Equity Residential (NYSE:EQRFree Report) by 32.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,469 shares of the real estate investment trust’s stock after purchasing an additional 4,269 shares during the period. Baillie Gifford & Co.’s holdings in Equity Residential were worth $1,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Consolidated Portfolio Review Corp increased its holdings in Equity Residential by 33.1% in the 1st quarter. Consolidated Portfolio Review Corp now owns 5,056 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 1,257 shares in the last quarter. Norden Group LLC bought a new position in shares of Equity Residential in the first quarter worth approximately $414,000. Van ECK Associates Corp increased its stake in shares of Equity Residential by 3.8% in the first quarter. Van ECK Associates Corp now owns 152,212 shares of the real estate investment trust’s stock worth $9,606,000 after purchasing an additional 5,625 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Equity Residential by 1.3% during the first quarter. Perigon Wealth Management LLC now owns 43,704 shares of the real estate investment trust’s stock worth $2,758,000 after purchasing an additional 566 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in Equity Residential by 69,333.3% during the 1st quarter. Prestige Wealth Management Group LLC now owns 4,166 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 4,160 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Insider Transactions at Equity Residential

In related news, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the transaction, the executive vice president now directly owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Alexander Brackenridge sold 4,027 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the sale, the executive vice president now owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,625 shares of company stock valued at $913,158. Company insiders own 1.00% of the company’s stock.

Equity Residential Stock Up 0.6 %

Shares of NYSE:EQR opened at $67.87 on Friday. The business’s 50 day moving average is $66.53 and its 200 day moving average is $63.10. The stock has a market cap of $25.76 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 3.90 and a beta of 0.87. Equity Residential has a 52-week low of $52.57 and a 52-week high of $69.65. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQRGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $730.80 million for the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. Sell-side analysts predict that Equity Residential will post 3.88 EPS for the current year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a $0.675 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.98%. Equity Residential’s dividend payout ratio is currently 112.03%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQR shares. Scotiabank upped their price target on Equity Residential from $65.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Equity Residential in a research note on Monday, April 29th. Mizuho raised their price objective on Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Truist Financial raised their price target on Equity Residential from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.09.

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About Equity Residential

(Free Report)

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.

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

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