Utah Retirement Systems Buys 1,000 Shares of Equity Residential (EQR)
Utah Retirement Systems increased its position in shares of Equity Residential (NYSE:EQR) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,298 shares of the real estate investment trust’s stock after buying an additional 1,000 shares during the period. Utah Retirement Systems’ holdings in Equity Residential were worth $5,102,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Equity Residential during the first quarter valued at $355,000. LPL Financial LLC raised its position in shares of Equity Residential by 33.9% in the first quarter. LPL Financial LLC now owns 13,922 shares of the real estate investment trust’s stock valued at $1,031,000 after buying an additional 3,524 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Equity Residential during the first quarter valued at $847,000. Merriman Wealth Management LLC acquired a new position in shares of Equity Residential during the second quarter valued at $4,522,000. Finally, CHURCHILL MANAGEMENT Corp raised its position in shares of Equity Residential by 22.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 31,994 shares of the real estate investment trust’s stock valued at $2,204,000 after buying an additional 5,827 shares in the last quarter. Institutional investors and hedge funds own 94.53% of the company’s stock.
Shares of Equity Residential (NYSE:EQR) traded down 0.79% during mid-day trading on Wednesday, reaching $60.01. The company’s stock had a trading volume of 3,668,721 shares. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 5.23 and a beta of 0.37. Equity Residential has a 1-year low of $58.28 and a 1-year high of $82.39. The firm’s 50 day moving average price is $60.59 and its 200-day moving average price is $64.96.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. Equity Residential had a return on equity of 39.22% and a net margin of 167.17%. The business had revenue of $606.07 million for the quarter, compared to analysts’ expectations of $602.10 million. During the same period last year, the business earned $0.89 earnings per share. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, analysts predict that Equity Residential will post $3.08 EPS for the current year.
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Several equities research analysts have commented on the company. Citigroup Inc. lowered Equity Residential from a “market perform” rating to an “underperform” rating in a research note 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 note 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 note on Monday, October 31st. Jefferies Group reiterated a “hold” rating on shares of Equity Residential in a research note on Wednesday, August 10th. Finally, Raymond James Financial Inc. lowered Equity Residential from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Equity Residential has a consensus rating of “Hold” and a consensus target price of $68.83.
Equity Residential Company Profile
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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