Equity Residential $EQR Shares Sold by Aurora Investment Managers LLC.

Key Points

• Aurora Investment Managers cut its Equity Residential stake by 81.4% in the second quarter, selling 46,048 shares and retaining 10,550 shares valued at approximately $717,000.
• Equity Residential shares recently traded at $67.05, while the company pays a quarterly dividend of $0.7025 per share, representing a 4.2% annualized yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $71.40; institutional investors collectively own 92.68% of the REIT.

Aurora Investment Managers LLC. reduced its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 81.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,550 shares of the real estate investment trust's stock after selling 46,048 shares during the period. Equity Residential comprises 0.4% of Aurora Investment Managers LLC.'s investment portfolio, making the stock its 29th largest holding. Aurora Investment Managers LLC.'s holdings in Equity Residential were worth $717,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EQR. Fulcrum Asset Management LLP purchased a new stake in Equity Residential in the third quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in Equity Residential during the 3rd quarter worth $31,000. Zions Bancorporation National Association UT lifted its stake in shares of Equity Residential by 375.2% in the 4th quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 379 shares during the period. DV Equities LLC acquired a new stake in shares of Equity Residential in the 4th quarter worth $30,000. Finally, Leonteq Securities AG boosted its holdings in shares of Equity Residential by 48.8% in the first quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Trading Up 0.5%

Shares of NYSE EQR opened at $67.05 on Friday. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. Equity Residential has a 12-month low of $57.57 and a 12-month 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 stock's 50 day simple moving average is $67.60 and its 200 day simple moving average is $64.37.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential's payout ratio is 122.17%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQR. UBS Group increased their target price on Equity Residential from $71.00 to $73.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $72.00 price target on shares of Equity Residential in a research note on Monday, July 20th. BMO Capital Markets upped their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a "market perform" rating in a report on Monday, June 8th. Wells Fargo & Company increased their price objective on Equity Residential from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Finally, Evercore raised their target price on Equity Residential from $70.00 to $71.00 in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, Equity Residential has an average rating of "Hold" and an average price target of $71.40.

Equity Residential Profile

Equity Residential NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source