LS Investment Advisors LLC Buys 6,067 Shares of Equity Residential (EQR)
LS Investment Advisors LLC raised its stake in shares of Equity Residential (NYSE:EQR) by 23.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,456 shares of the real estate investment trust’s stock after buying an additional 6,067 shares during the quarter. LS Investment Advisors LLC’s holdings in Equity Residential were worth $2,070,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in EQR. Amica Retiree Medical Trust bought a new stake in shares of Equity Residential in the 3rd quarter worth $135,000. Zions Bancorporation increased its holdings in shares of Equity Residential by 3,348.4% in the 3rd quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 2,076 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Equity Residential in the 3rd quarter worth $171,000. Prudential PLC bought a new stake in shares of Equity Residential in the 2nd quarter worth $209,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Equity Residential in the 3rd quarter worth $216,000. Institutional investors and hedge funds own 93.55% of the company’s stock.
A number of analysts have commented on the company. Robert W. Baird reissued a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a report on Friday, November 10th. Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, November 6th. BMO Capital Markets reissued a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a report on Monday, November 27th. Zacks Investment Research lowered Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reduced their target price on Equity Residential from $71.00 to $68.00 and set a “hold” rating for the company in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Equity Residential currently has a consensus rating of “Hold” and an average target price of $67.87.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm had revenue of $630.50 million during the quarter, compared to the consensus estimate of $625.83 million. During the same period in the previous year, the firm earned $0.79 EPS. The business’s revenue was up 4.2% on a year-over-year basis. analysts forecast that Equity Residential will post 3.23 EPS for the current fiscal year.
In related news, EVP Scott Fenster sold 449 shares of Equity Residential stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $26,122.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ian Kaufman sold 684 shares of Equity Residential stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $39,795.12. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $819,000 in the last ninety days. 3.79% of the stock is currently owned by corporate insiders.
Equity Residential 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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