287,791 Shares of Vivmark Residential Common Shares of Beneficial Interest $VMRK Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management acquired 287,791 VMRK shares valued at approximately $17.5 million, while institutional investors collectively owned 92.68% of the company.
• Company insiders sold 58,286 shares worth about $3.7 million during the last quarter; two directors reduced their individual holdings by 35% to 40%.
• Analysts maintain a consensus “Hold” rating with an average price target of $71.42, compared with shares trading near $61.90. The company also offers a quarterly dividend of $0.7025 per share, representing a 4.5% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 287,791 shares of the company's stock, valued at approximately $17,486,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.08% of Vivmark Residential Common Shares of Beneficial Interest as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Vivmark Residential Common Shares of Beneficial Interest during the third quarter valued at approximately $42,080,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest in the 3rd quarter worth approximately $38,810,000. State of Alaska Department of Revenue purchased a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest in the 3rd quarter worth approximately $27,330,000. Perpetual Ltd purchased a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest in the 3rd quarter worth approximately $26,651,000. Finally, Pensionfund PDN bought a new position in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter valued at approximately $6,617,000. Hedge funds and other institutional investors own 92.68% of the company's stock.

Insiders Place Their Bets

In other Vivmark Residential Common Shares of Beneficial Interest news, Director Christopher B. Howard sold 8,486 shares of Vivmark Residential Common Shares of Beneficial Interest stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $64.00, for a total value of $543,104.00. Following the completion of the sale, the director owned 12,730 shares of the company's stock, valued at approximately $814,720. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Swanezy sold 15,700 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $63.80, for a total value of $1,001,660.00. Following the completion of the transaction, the director owned 28,934 shares of the company's stock, valued at $1,845,989.20. This represents a 35.17% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 58,286 shares of company stock worth $3,735,822. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VMRK. UBS Group lowered their price objective on Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Wells Fargo & Company cut their target price on Vivmark Residential Common Shares of Beneficial Interest from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday. Royal Bank Of Canada cut their target price on Vivmark Residential Common Shares of Beneficial Interest from $71.00 to $67.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. assumed coverage on Vivmark Residential Common Shares of Beneficial Interest in a report on Monday, August 24th. They set a "neutral" rating and a $73.00 price target for the company. Finally, Morgan Stanley initiated coverage on Vivmark Residential Common Shares of Beneficial Interest in a research report on Tuesday, August 25th. They issued an "overweight" rating and a $75.00 price target for the company. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $71.42.

Vivmark Residential Common Shares of Beneficial Interest Stock Performance

Shares of NYSE VMRK opened at $61.90 on Wednesday. The business has a 50 day moving average price of $63.18. Vivmark Residential Common Shares of Beneficial Interest has a 52-week low of $57.57 and a 52-week high of $71.50. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $23.21 billion, a P/E ratio of 26.12, a PEG ratio of 3.53 and a beta of 0.74.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.30 earnings per share for the quarter. Vivmark Residential Common Shares of Beneficial Interest had a net margin of 27.97% and a return on equity of 8.06%. The company had revenue of $785.05 million during the quarter. On average, analysts forecast that Vivmark Residential Common Shares of Beneficial Interest will post 4.07 earnings per share for the current fiscal year.

Vivmark Residential Common Shares of Beneficial Interest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 5th were paid a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, October 5th. Vivmark Residential Common Shares of Beneficial Interest's dividend payout ratio (DPR) is currently 122.17%.

About Vivmark Residential Common Shares of Beneficial Interest

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.