Andra AP fonden Sells 23,554 Shares of Equity Residential (EQR)
Andra AP fonden reduced its position in shares of Equity Residential (NYSE:EQR) by 14.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,846 shares of the real estate investment trust’s stock after selling 23,554 shares during the period. Andra AP fonden’s holdings in Equity Residential were worth $9,074,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the last quarter. Financial Architects Inc boosted its stake in shares of 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. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Equity Residential during the first quarter worth about $218,000. Anchor Capital Advisors LLC boosted its stake in shares of Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Equity Residential during the first quarter worth about $230,000. 91.81% of the stock is owned by institutional investors.
Equity Residential (NYSE EQR) opened at 67.94 on Friday. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The company has a market cap of $24.96 billion, a PE ratio of 30.40 and a beta of 0.34. The stock has a 50 day moving average of $66.98 and a 200-day moving average of $65.00.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The company had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Equity Residential will post $1.48 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on EQR shares. TheStreet raised shares of Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, June 16th. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, July 18th. Finally, Barclays PLC upped their price objective 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.00.
In other news, CEO David J. Neithercut sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $68.10, for a total value of $5,107,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,493 shares of company stock valued at $14,045,003. 3.79% of the stock is owned by corporate insiders.
Equity Residential Company Profile
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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