Eagle Asset Management Inc. Has $17,664,000 Stake in Equity Residential (EQR)
Eagle Asset Management Inc. increased its stake in Equity Residential (NYSE:EQR) by 7.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,586 shares of the real estate investment trust’s stock after buying an additional 19,067 shares during the period. Eagle Asset Management Inc. owned approximately 0.08% of Equity Residential worth $17,664,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in Equity Residential during the second quarter valued at approximately $146,000. Compagnie Lombard Odier SCmA bought a new stake in Equity Residential during the second quarter valued at approximately $165,000. Invictus RG bought a new stake in Equity Residential during the second quarter valued at approximately $224,000. Lebenthal Holdings LLC boosted its stake in Equity Residential by 3.3% in the second quarter. Lebenthal Holdings LLC now owns 3,312 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 107 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in Equity Residential by 23.0% in the second quarter. Checchi Capital Advisers LLC now owns 3,589 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 94.53% of the company’s stock.
Shares of Equity Residential (NYSE:EQR) traded up 1.02% during midday trading on Tuesday, hitting $60.59. The company had a trading volume of 836,597 shares. Equity Residential has a one year low of $58.28 and a one year high of $82.39. The company’s 50 day moving average is $60.59 and its 200 day moving average is $64.96. The firm has a market cap of $22.16 billion, a price-to-earnings ratio of 5.28 and a beta of 0.37.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. Equity Residential had a net margin of 167.17% and a return on equity of 39.22%. The business had revenue of $606.07 million for the quarter, compared to analysts’ expectations of $602.10 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. Equities analysts forecast that Equity Residential will post $3.08 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Citigroup Inc. cut Equity Residential from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 3rd. SunTrust Banks Inc. cut their price objective on Equity Residential from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Mizuho upgraded Equity Residential from an “underperform” rating to a “neutral” rating and set a $62.00 price objective for the company in a research report on Monday, October 31st. Jefferies Group reiterated a “hold” rating on shares of Equity Residential in a research report on Wednesday, August 10th. Finally, Raymond James Financial Inc. cut Equity Residential from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. Equity Residential currently has an average rating of “Hold” and a consensus price target of $68.83.
About Equity Residential
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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