Sei Investments Co. Has $79.48 Million Stock Holdings in Equity Residential (NYSE:EQR)

Sei Investments Co. boosted its stake in Equity Residential (NYSE:EQR) by 7.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,146,244 shares of the real estate investment trust’s stock after buying an additional 84,382 shares during the period. Sei Investments Co.’s holdings in Equity Residential were worth $79,480,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EQR. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential during the first quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in Equity Residential during the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its stake in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the period. HHM Wealth Advisors LLC grew its holdings in Equity Residential by 146.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new position in Equity Residential during the 1st quarter worth $41,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Transactions at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the transaction, the chief financial officer now owns 14,576 shares in the company, valued at $1,006,910.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Stock Down 0.6 %

Shares of EQR opened at $76.58 on Friday. The stock’s 50-day moving average price is $72.72 and its two-hundred day moving average price is $67.65. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. The company has a market capitalization of $29.07 billion, a PE ratio of 31.78, a PEG ratio of 4.27 and a beta of 0.89. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. Equity Residential’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. On average, analysts anticipate that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 112.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EQR shares. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target for the company. Scotiabank increased their price target on Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Finally, Piper Sandler boosted their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus price target of $75.62.

Equity Residential Company Profile

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.