Red Spruce Capital LLC Makes New Investment in Vivmark Residential Common Shares of Beneficial Interest $VMRK

Key Points

• Red Spruce Capital acquired 22,503 shares of Vivmark Residential, valued at approximately $1.37 million. Institutional investors and hedge funds collectively own 92.68% of the company.
• Vivmark reported quarterly earnings of $0.30 per share on revenue of $785.05 million and declared a quarterly dividend of $0.7025 per share, representing a 4.7% annualized yield.
• Analysts maintain a generally cautious outlook, with five Buy ratings and ten Holds, resulting in an overall “Hold” consensus and an average price target of $73.29 versus the stock’s $59.33 opening price.

Red Spruce Capital LLC bought a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,503 shares of the company's stock, valued at approximately $1,367,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Planning Strategies Inc. raised its holdings in Vivmark Residential Common Shares of Beneficial Interest by 87.5% during the 3rd quarter. Planning Strategies Inc. now owns 538 shares of the company's stock worth $33,000 after buying an additional 251 shares during the period. American National Bank & Trust acquired a new position in shares of Vivmark Residential Common Shares of Beneficial Interest in the third quarter worth about $69,000. Tompkins Financial Corp acquired a new position in shares of Vivmark Residential Common Shares of Beneficial Interest in the third quarter worth about $76,000. Rosenberg Matthew Hamilton increased 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 worth $79,000 after acquiring an additional 421 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of Vivmark Residential Common Shares of Beneficial Interest in the third quarter worth approximately $127,000. Institutional investors and hedge funds own 92.68% of the company's stock.

Vivmark Residential Common Shares of Beneficial Interest Stock Performance

Shares of NYSE VMRK opened at $59.33 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.19 and a quick ratio of 0.19. Vivmark Residential Common Shares of Beneficial Interest has a one year low of $57.57 and a one year high of $71.50. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 3.50 and a beta of 0.74.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.30 earnings per share for the quarter. The company had revenue of $785.05 million for the quarter. Vivmark Residential Common Shares of Beneficial Interest had a return on equity of 8.06% and a net margin of 27.97%. As a group, analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Monday, October 5th will be given a dividend of $0.7025 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $2.81 dividend on an annualized basis and a yield of 4.7%. Vivmark Residential Common Shares of Beneficial Interest's payout ratio is presently 122.17%.

Insider Transactions at Vivmark Residential Common Shares of Beneficial Interest

In other Vivmark Residential Common Shares of Beneficial Interest news, Director Charles E. Mueller, Jr. sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $63.90, for a total value of $511,200.00. Following the completion of the sale, the director owned 16,084 shares in the company, valued at $1,027,767.60. This represents a 33.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael L. Manelis sold 7,825 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.31, for a total transaction of $503,225.75. Following the completion of the sale, the chief operating officer owned 44,713 shares of the company's stock, valued at approximately $2,875,493.03. The trade was a 14.89% 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VMRK shares. Wells Fargo & Company started coverage on shares of Vivmark Residential Common Shares of Beneficial Interest in a report on Friday, August 21st. They set an "overweight" rating and a $72.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $74.00 and set a "market perform" rating for the company in a research note on Monday, August 24th. KeyCorp started coverage on shares of Vivmark Residential Common Shares of Beneficial Interest in a research report on Wednesday, August 26th. They set a "sector weight" rating on the stock. BTIG Research reissued a "neutral" rating on shares of Vivmark Residential Common Shares of Beneficial Interest in a research note on Thursday, September 17th. Finally, Evercore initiated coverage on Vivmark Residential Common Shares of Beneficial Interest in a report on Tuesday, August 18th. They issued an "in-line" rating and a $72.00 target price for the company. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Vivmark Residential Common Shares of Beneficial Interest has an average rating of "Hold" and an average target price of $73.29.

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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