Oakbrook Investments LLC reduced its stake in shares of Equity Residential (NYSE:EQR) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,389 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Oakbrook Investments LLC’s holdings in Equity Residential were worth $1,013,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after buying an additional 11,260,624 shares during the last quarter. Colony Group LLC raised its position in Equity Residential by 45.0% in the first quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock worth $1,333,000 after buying an additional 6,646 shares during the last quarter. Green Street Investors LLC raised its position in Equity Residential by 66.8% in the first quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock worth $13,147,000 after buying an additional 84,600 shares during the last quarter. Financial Architects Inc raised its position 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 worth $106,000 after buying an additional 94 shares during the last quarter. Finally, Land & Buildings Investment Management LLC acquired a new position in Equity Residential during the first quarter worth $15,692,000. Institutional investors and hedge funds own 91.81% of the company’s stock.
Equity Residential (NYSE EQR) traded down 0.71% during midday trading on Friday, hitting $67.17. 2,942,273 shares of the stock were exchanged. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The firm has a 50 day moving average of $66.74 and a 200-day moving average of $64.74. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 30.05 and a beta of 0.34.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business had revenue of $612.48 million for the quarter, compared to analysts’ expectations of $609.37 million. During the same period last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Equity Residential will post $1.44 earnings per share for the current year.
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A number of equities analysts recently weighed in on the stock. Deutsche Bank AG boosted their price target on shares of Equity Residential from $67.00 to $69.00 and gave the stock a “hold” rating in a research report on Friday. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Barclays PLC boosted their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and a consensus price target of $68.00.
In other news, insider Alan W. George sold 28,157 shares of Equity Residential stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total transaction of $1,856,391.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. Insiders sold 59,124 shares of company stock worth $3,945,054 over the last three months. Corporate insiders own 3.79% of the company’s stock.
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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