Sheaff Brock Investment Advisors LLC increased its holdings in shares of Equity Residential (NYSE:EQR) by 6.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,764 shares of the real estate investment trust’s stock after purchasing an additional 365 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Equity Residential were worth $438,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc acquired a new stake in Equity Residential in the second quarter valued at approximately $34,000. Tiemann Investment Advisors LLC acquired a new stake in shares of Equity Residential during the first quarter worth $204,000. Green Street Investors LLC lifted its stake in shares of Equity Residential by 46.3% during the first quarter. Green Street Investors LLC now owns 258,300 shares of the real estate investment trust’s stock worth $19,455,000 after buying an additional 81,700 shares during the period. Northern Trust Corp lifted its stake in shares of Equity Residential by 0.4% during the first quarter. Northern Trust Corp now owns 6,770,425 shares of the real estate investment trust’s stock worth $509,949,000 after buying an additional 28,685 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Equity Residential by 4.6% during the second quarter. Huntington National Bank now owns 3,700 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 87.98% of the company’s stock.
In other Equity Residential news, insider Alan W. George sold 30,000 shares of Equity Residential stock in a transaction on Friday, May 24th. The shares were sold at an average price of $77.24, for a total value of $2,317,200.00. Following the completion of the transaction, the insider now owns 86,582 shares of the company’s stock, valued at $6,687,593.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark J. Parrell sold 59,385 shares of Equity Residential stock in a transaction on Friday, May 17th. The shares were sold at an average price of $76.60, for a total transaction of $4,548,891.00. Following the completion of the transaction, the chief executive officer now directly owns 79,782 shares of the company’s stock, valued at approximately $6,111,301.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,906 shares of company stock valued at $17,697,674. 3.75% of the stock is currently owned by corporate insiders.
Shares of Equity Residential stock traded up $0.60 during trading on Thursday, hitting $80.42. 4,105 shares of the company’s stock were exchanged, compared to its average volume of 1,401,732. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $78.63. Equity Residential has a 52-week low of $62.40 and a 52-week high of $81.88. The company has a market cap of $30.12 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.99 and a beta of 0.51.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). Equity Residential had a return on equity of 7.21% and a net margin of 28.27%. The business had revenue of $669.37 million for the quarter, compared to analysts’ expectations of $667.59 million. During the same period last year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Equity Residential will post 3.45 EPS for the current year.
Several equities research analysts have recently commented on EQR shares. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday. Morgan Stanley lifted their price objective on shares of Equity Residential from $70.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 27th. Finally, Argus lifted their price objective on shares of Equity Residential to $84.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $74.70.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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