Boston Partners Has $427.42 Million Stake in Equity Residential (EQR)
Boston Partners reduced its position in Equity Residential (NYSE:EQR) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,475,134 shares of the real estate investment trust’s stock after selling 57,488 shares during the quarter. Boston Partners’ holdings in Equity Residential were worth $427,423,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Equity Residential by 5.1% in the second quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock valued at $678,982,000 after acquiring an additional 520,610 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Equity Residential by 9.8% in the second quarter. Advisors Asset Management Inc. now owns 15,939 shares of the real estate investment trust’s stock valued at $1,015,000 after acquiring an additional 1,419 shares during the last quarter. First Hawaiian Bank bought a new position in Equity Residential in the third quarter valued at approximately $585,000. Aperio Group LLC boosted its stake in Equity Residential by 6.1% in the third quarter. Aperio Group LLC now owns 128,238 shares of the real estate investment trust’s stock valued at $8,497,000 after acquiring an additional 7,342 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in Equity Residential by 36.8% in the third quarter. Oakbrook Investments LLC now owns 20,804 shares of the real estate investment trust’s stock valued at $1,378,000 after acquiring an additional 5,600 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.
In related news, EVP Scott Fenster sold 475 shares of the firm’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total transaction of $34,299.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Barry Altshuler sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $73.29, for a total transaction of $732,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,878 shares of company stock worth $24,711,438. 3.75% of the stock is currently owned by company insiders.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. The company had revenue of $652.55 million for the quarter, compared to analyst estimates of $652.35 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Equity Residential will post 3.4 earnings per share for the current fiscal year.
EQR has been the topic of a number of recent research reports. ValuEngine raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Mizuho cut shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a research report on Wednesday, January 23rd. Argus lifted their price target on shares of Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research cut shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Barclays reissued a “hold” rating and set a $65.00 price target on shares of Equity Residential in a research report on Wednesday, January 23rd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.06.
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About Equity Residential
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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