Braun Bostich & Associates Inc. boosted its stake in shares of Equity Residential (NYSE:EQR) by 38.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516 shares of the real estate investment trust’s stock after purchasing an additional 142 shares during the quarter. Braun Bostich & Associates Inc.’s holdings in Equity Residential were worth $34,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Keybank National Association OH increased its holdings in Equity Residential by 5.0% during the 4th quarter. Keybank National Association OH now owns 3,454 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 164 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Equity Residential by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,174 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 174 shares during the period. Chemical Bank increased its holdings in Equity Residential by 2.0% during the 4th quarter. Chemical Bank now owns 9,002 shares of the real estate investment trust’s stock worth $594,000 after purchasing an additional 180 shares during the period. Lourd Capital LLC increased its holdings in Equity Residential by 4.2% during the 4th quarter. Lourd Capital LLC now owns 5,692 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 228 shares during the period. Finally, Keeley Teton Advisors LLC increased its holdings in Equity Residential by 2.4% during the 4th quarter. Keeley Teton Advisors LLC now owns 10,602 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 250 shares during the period. Institutional investors own 89.09% of the company’s stock.
Equity Residential stock opened at $72.68 on Thursday. Equity Residential has a twelve month low of $55.50 and a twelve month high of $73.85. The company has a quick ratio of 0.13, a current ratio of 0.29 and a debt-to-equity ratio of 0.85. The company has a market cap of $27.09 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 3.65 and a beta of 0.61.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. The company had revenue of $652.55 million for the quarter, compared to analyst estimates of $652.35 million. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts forecast that Equity Residential will post 3.4 EPS for the current year.
EQR has been the topic of several recent research reports. BMO Capital Markets upped their price target on Equity Residential from $68.00 to $69.00 and gave the stock a “market perform” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Friday, October 26th. Argus increased their price objective on Equity Residential from $70.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 30th. Wells Fargo & Co set a $70.00 price objective on Equity Residential and gave the company a “hold” rating in a report on Thursday, November 1st. Finally, Scotiabank set a $71.00 price objective on Equity Residential and gave the company a “buy” rating in a report on Monday, November 12th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.06.
In other news, Chairman Samuel Zell sold 121,848 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $71.83, for a total value of $8,752,341.84. Following the completion of the sale, the chairman now directly owns 261,654 shares of the company’s stock, valued at approximately $18,794,606.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Manelis sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $69.77, for a total value of $558,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 342,878 shares of company stock valued at $24,711,438 over the last ninety days. 3.75% of the stock is owned by insiders.
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Equity Residential Company Profile
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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