Alps Advisors Inc. increased its stake in Equity Residential (NYSE:EQR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,076 shares of the real estate investment trust’s stock after buying an additional 40 shares during the period. Alps Advisors Inc.’s holdings in Equity Residential were worth $2,046,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of EQR. Bessemer Group Inc. raised its stake in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 872 shares during the period. Financial Architects Inc raised its stake in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares during the period. Delta Asset Management LLC TN raised its stake in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Equity Residential during the first quarter valued at $218,000. Finally, Anchor Capital Advisors LLC raised its stake in Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.
Equity Residential (EQR) opened at 67.65 on Friday. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The firm has a market capitalization of $24.85 billion, a price-to-earnings ratio of 30.27 and a beta of 0.34. The company has a 50 day moving average price of $66.71 and a 200-day moving average price of $64.69.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The company had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts predict that Equity Residential will post $1.44 earnings per share for the current year.
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Several research firms recently weighed in on EQR. TheStreet lowered Equity Residential from a “b” rating to a “c+” rating in a report on Wednesday, May 17th. BidaskClub lowered Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, June 16th. Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. Finally, Argus set a $75.00 price target on Equity Residential and gave the stock a “buy” rating in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Equity Residential currently has a consensus rating of “Hold” and an average price target of $67.92.
In related news, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan W. George sold 28,157 shares of Equity Residential stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. Insiders have sold a total of 59,124 shares of company stock valued at $3,945,054 over the last quarter. 3.79% of the stock is currently owned by corporate insiders.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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