Chemical Bank Decreases Holdings in Equity Residential (EQR)
Chemical Bank cut its stake in shares of Equity Residential (NYSE:EQR) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,388 shares of the real estate investment trust’s stock after selling 450 shares during the period. Chemical Bank’s holdings in Equity Residential were worth $618,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Equity Residential by 124.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 872 shares during the last quarter. Girard Partners LTD. purchased a new stake in Equity Residential during the 2nd quarter valued at $209,000. Hedeker Wealth LLC purchased a new stake in Equity Residential during the 2nd quarter valued at $225,000. Dynamic Technology Lab Private Ltd purchased a new stake in Equity Residential during the 1st quarter valued at $218,000. Finally, Anchor Capital Advisors LLC raised its stake in Equity Residential by 1.4% during the 1st quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.
Equity Residential (NYSE EQR) opened at 67.42 on Friday. The company has a 50-day moving average of $67.56 and a 200 day moving average of $65.52. The company has a market cap of $24.76 billion, a P/E ratio of 30.17 and a beta of 0.36. Equity Residential has a one year low of $58.28 and a one year high of $68.83.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. Analysts anticipate that Equity Residential will post $1.48 earnings per share for the current year.
A number of equities research analysts have weighed in on EQR shares. BMO Capital Markets reiterated a “hold” rating and set a $66.00 target price on shares of Equity Residential in a research note on Thursday, May 25th. Jefferies Group LLC reissued a “hold” rating and set a $61.00 price objective on shares of Equity Residential in a research report on Tuesday, May 30th. 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. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Equity Residential has an average rating of “Hold” and a consensus target price of $68.21.
In related news, Director Mark S. Shapiro sold 2,853 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total transaction of $192,006.90. Following the sale, the director now owns 2,573 shares in the company, valued at $173,162.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael L. Manelis sold 433 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,622 shares of company stock worth $11,816,599. 3.79% of the stock is owned by company 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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