Canandaigua National Bank & Trust Co. Purchases 17,933 Shares of Vivmark Residential Common Shares of Beneficial Interest $VMRK

Key Points

• Canandaigua National Bank & Trust acquired 17,933 shares of VMRK during the third quarter, valued at approximately $1.09 million. Institutional investors collectively own 92.68% of the company.
• Analysts maintain a largely cautious outlook, with five Buy ratings and ten Hold ratings producing a consensus Hold rating and an average price target of $73.29.
• VMRK announced a quarterly dividend of $0.7025 per share, equivalent to an annualized $2.81 payout and a 4.7% yield. Company insiders sold 58,286 shares worth about $3.74 million over the past three months.

Canandaigua National Bank & Trust Co. acquired a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund acquired 17,933 shares of the company's stock, valued at approximately $1,090,000.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust purchased a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest in the third quarter worth about $69,000. Rosenberg Matthew Hamilton boosted its position in shares of Vivmark Residential Common Shares of Beneficial Interest by 47.8% in the third quarter. Rosenberg Matthew Hamilton now owns 1,301 shares of the company's stock valued at $79,000 after acquiring an additional 421 shares during the period. Pensionfund Sabic purchased a new position in Vivmark Residential Common Shares of Beneficial Interest during the third quarter valued at approximately $3,181,000. Pensionfund PDN bought a new stake in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter worth approximately $6,617,000. Finally, Tompkins Financial Corp purchased a new stake in Vivmark Residential Common Shares of Beneficial Interest in the 3rd quarter worth approximately $76,000. Hedge funds and other institutional investors own 92.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on VMRK shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $70.00 price target on shares of Vivmark Residential Common Shares of Beneficial Interest in a report on Tuesday, August 25th. BTIG Research reaffirmed a "neutral" rating on shares of Vivmark Residential Common Shares of Beneficial Interest in a report on Thursday, September 17th. JPMorgan Chase & Co. initiated coverage on Vivmark Residential Common Shares of Beneficial Interest in a research report on Monday, August 24th. They issued a "neutral" rating and a $73.00 price objective on the stock. Piper Sandler lifted their price objective on Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus reduced their target price on Vivmark Residential Common Shares of Beneficial Interest from $79.00 to $78.50 and set a "buy" rating for the company in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.29.

Insider Activity

In related news, COO Michael L. Manelis sold 7,825 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.31, for a total value of $503,225.75. Following the completion of the sale, the chief operating officer owned 44,713 shares in the company, valued at $2,875,493.03. The trade was a 14.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan Swanezy sold 15,700 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 28,934 shares of the company's stock, valued at approximately $1,845,989.20. This represents a 35.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 58,286 shares of company stock worth $3,735,822. 1.20% of the stock is currently owned by insiders.

Vivmark Residential Common Shares of Beneficial Interest Stock Performance

Vivmark Residential Common Shares of Beneficial Interest stock opened at $59.33 on Thursday. Vivmark Residential Common Shares of Beneficial Interest has a fifty-two week low of $57.57 and a fifty-two week high of $71.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $22.24 billion, a PE ratio of 25.80, a P/E/G ratio of 3.50 and a beta of 0.74.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.30 earnings per share (EPS) 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, equities analysts forecast that Vivmark Residential Common Shares of Beneficial Interest will post 4.07 earnings per share for the current year.

Vivmark Residential Common Shares of Beneficial Interest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, October 5th will be given a dividend of $0.7025 per share. The ex-dividend date is Monday, October 5th. This represents a $2.81 annualized dividend and a dividend yield of 4.7%. Vivmark Residential Common Shares of Beneficial Interest's dividend payout ratio is 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.

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