Stevens Capital Management LP purchased a new stake in shares of Equity Residential (NYSE:EQR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 226,447 shares of the real estate investment trust’s stock, valued at approximately $14,422,000. Stevens Capital Management LP owned approximately 0.06% of Equity Residential at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in EQR. Boston Partners boosted its stake in shares of Equity Residential by 80.2% during the second quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock valued at $409,622,000 after purchasing an additional 2,862,717 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Equity Residential by 339.1% in the first quarter. Franklin Resources Inc. now owns 2,212,727 shares of the real estate investment trust’s stock worth $136,347,000 after acquiring an additional 1,708,761 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of Equity Residential in the first quarter worth approximately $75,534,000. Resolution Capital Ltd lifted its stake in shares of Equity Residential by 52.1% in the second quarter. Resolution Capital Ltd now owns 3,579,025 shares of the real estate investment trust’s stock worth $227,948,000 after acquiring an additional 1,225,200 shares during the period. Finally, Centersquare Investment Management LLC acquired a new position in shares of Equity Residential in the first quarter worth approximately $37,741,000. 92.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on EQR. Robert W. Baird reaffirmed a “hold” rating and issued a $66.00 price objective on shares of Equity Residential in a research note on Thursday, August 16th. Mizuho reissued a “buy” rating and issued a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. SunTrust Banks lowered Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research note on Tuesday, August 14th. ValuEngine raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Finally, Stifel Nicolaus boosted their price target on Equity Residential from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.62.
In other news, insider David S. Santee sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $61.55, for a total transaction of $118,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David J. Neithercut sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total value of $1,612,500.00. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.
Shares of NYSE EQR traded down $0.60 during midday trading on Tuesday, hitting $67.15. 9,614 shares of the stock traded hands, compared to its average volume of 1,442,797. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 3.51 and a beta of 0.43. Equity Residential has a one year low of $54.97 and a one year high of $70.46. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.84.
Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $639.62 million during the quarter, compared to the consensus estimate of $637.34 million. Equity Residential had a return on equity of 5.63% and a net margin of 23.27%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. equities research analysts anticipate that Equity Residential will post 3.24 earnings per share for the current year.
Equity Residential Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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