Tredje AP fonden lowered its position in Equity Residential (NYSE:EQR) by 27.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,047 shares of the real estate investment trust’s stock after selling 10,061 shares during the quarter. Tredje AP fonden’s holdings in Equity Residential were worth $2,212,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in EQR. First Horizon Advisors Inc. boosted its holdings in Equity Residential by 111.1% in the 1st quarter. First Horizon Advisors Inc. now owns 477 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 251 shares during the last quarter. TFG Advisers LLC purchased a new stake in shares of Equity Residential during the 4th quarter valued at approximately $33,000. WASHINGTON TRUST Co acquired a new position in Equity Residential in the first quarter valued at approximately $42,000. TCI Wealth Advisors Inc. lifted its holdings in Equity Residential by 2,363.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 542 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 520 shares during the last quarter. Finally, Ellevest Inc. grew its position in Equity Residential by 68.1% in the first quarter. Ellevest Inc. now owns 765 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 310 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.
EQR has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Equity Residential from $90.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Royal Bank of Canada reiterated a “hold” rating and set a $85.00 price target on shares of Equity Residential in a research report on Monday, March 9th. BTIG Research raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, March 10th. Citigroup decreased their price objective on shares of Equity Residential from $87.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating in a report on Monday, May 18th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and an average target price of $74.67.
Shares of NYSE:EQR traded down $0.53 during trading on Friday, hitting $57.40. The company’s stock had a trading volume of 2,835,280 shares, compared to its average volume of 2,820,919. The business has a 50 day moving average price of $62.80 and a two-hundred day moving average price of $75.84. The company has a market capitalization of $21.56 billion, a PE ratio of 18.45, a P/E/G ratio of 3.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.36. Equity Residential has a fifty-two week low of $49.62 and a fifty-two week high of $89.55.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). Equity Residential had a net margin of 43.16% and a return on equity of 11.20%. The company had revenue of $682.31 million during the quarter, compared to analyst estimates of $686.02 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Equity Residential will post 3.41 earnings per share for the current fiscal year.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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