Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stake in Equity Residential (EQR)
Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in Equity Residential (NYSE:EQR) by 31.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,754 shares of the real estate investment trust’s stock after selling 24,350 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Equity Residential were worth $3,473,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of EQR. Amica Mutual Insurance Co. bought a new stake in Equity Residential during the first quarter worth approximately $3,691,000. Amica Retiree Medical Trust bought a new stake in Equity Residential during the first quarter worth approximately $461,000. Amica Pension Fund Board of Trustees bought a new stake in Equity Residential during the first quarter worth approximately $3,023,000. Commerzbank Aktiengesellschaft FI boosted its stake in Equity Residential by 46.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 22,040 shares of the real estate investment trust’s stock worth $1,371,000 after buying an additional 7,002 shares during the last quarter. Finally, Honeywell International Inc. boosted its stake in Equity Residential by 145.9% in the first quarter. Honeywell International Inc. now owns 240,226 shares of the real estate investment trust’s stock worth $14,947,000 after buying an additional 142,520 shares during the last quarter. Institutional investors and hedge funds own 91.10% of the company’s stock.
Equity Residential (EQR) opened at 67.15 on Wednesday. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 30.04 and a beta of 0.34. The company’s 50 day moving average is $66.98 and its 200-day moving average is $65.00.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Equities analysts anticipate that Equity Residential will post $1.48 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on EQR. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Barclays PLC lifted their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. Bank of America Corporation upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, June 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. One 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. The stock has an average rating of “Hold” and a consensus target price of $68.00.
In other news, insider Alan W. George sold 28,157 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bruce C. Strohm sold 1,686 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $67.23, for a total value of $113,349.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,493 shares of company stock valued at $14,045,003. 3.79% of the stock is owned by company insiders.
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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