The Vanguard Group, Inc. has recently announced that it has increased stake in Equity Residential Properties Trust (NYSE:EQR) by 0.62%. After grabbing 55.6 million shares, the institutional investor is now in possession of 0.34 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 14.64% having worth around $3.4 billion. Moreover, BlackRock Fund Advisors increased its share by 0.38 million to have a control over 26.18 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 0.76 million shares by acquiring 17.23 million shares or 4.54% of the stake.
Equity Residential Properties Trust (EQR) concluded trading on Wednesday at a closing price of $58.76, with 3.2 million shares of worth about $187.96 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.59% during that period and On Wednesday, January 24 the price saw a loss of about -1.29%. Currently the company’s common shares owned by public are about 378.43M shares, out of which, 372.68M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 153,877 shares in 24 of the transactions. In 14 selling transactions, insiders dumped 108,640 shares.
Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Stichting Pensioenfonds ABP are the top 3 mutual funds which are holding stakes in Equity Residential Properties Trust Government Pension Fund – Global is currently holding 30.8 million shares of worth totaling $1.88 billion. The company recently came buying 0.73 million shares which brought its stake up to 8.11% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 78457.0 shares, after which its hold over company’s outstanding shares shrunk to 3.83%, leaving 14.52 million shares with the mutual fund that have a worth of about $888.23 million. Stichting Pensioenfonds ABP, after selling 11.67 million shares, have now control over 3.07% of the stake in the company. It holds -0.77 million shares of worth $713.58 million.
However, the stock later moved at a day high price of 60.17, or with a loss of -1.29%. Stock saw a price change of -2.39% in past 5 days and over the past one month there was a price change of -3.39%. Year-to-date (YTD), EQR shares are showing a performance of -3.92% which decreased to -4.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.57 but also hit the highest price of $69.45 during that period. The average intraday trading volume for Equity Residential Properties Trust shares is 2.34 million. The stock is currently trading -3.91% below its 20-day simple moving average (SMA20), while that difference is down -0.67% for SMA50 and it goes to -4.66% lower than SMA200.
The Vanguard Group, Inc. acquired 55.6 million shares of Equity Residential Properties Trust having value of about $3.4 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.34 million shares in the company valued at close to $20263973.6, or have control over 0.62% stake in the company. Equity Residential Properties Trust (NYSE: EQR) currently have 378.43M outstanding shares and institutions hold larger chunk of about 94.12% of that. Holding of mutual funds in the company is about 4.29% while other institutional holders and individual stake holders have control over 58.40% and 36.23% of the stake respectively.
The stock has a current market capitalization of $22.31B and its 3Y-monthly beta is at 0.86. PE ratio of stock for trailing 12 months is 32.71, while it has posted earnings per share of $1.80 in the same period. Its PEG reads 2.11 while making debt-to-equity ratio of 0.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EQR, volatility over the week remained 2.02% while standing at 1.82% over the month.
Analysts are in expectations that Equity Residential Properties Trust (EQR) stock would likely to be making an EPS of $0.42 in the current quarter, while forecast for next quarter EPS is $0.33 and it is $1.56 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.4 which is $0.46 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -13.35% while it is estimated to decrease by -12.53% in next year. EPS is likely to grow at an annualized rate of 15.51% for next 5-years, compared to annual growth of 12.19% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Mizuho on December 11, 2023 offering a Neutral rating for the stock and assigned a target price range of between $62 and $58 to it.
