Motco Reduces Stake in Equity Residential (EQR)
Motco cut its position in Equity Residential (NYSE:EQR) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,116 shares of the real estate investment trust’s stock after selling 1,877 shares during the period. Motco’s holdings in Equity Residential were worth $271,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its stake in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the period. Girard Partners LTD. acquired a new stake in Equity Residential during the second quarter worth $209,000. Dynamic Technology Lab Private Ltd acquired a new stake in Equity Residential during the first quarter worth $218,000. Anchor Capital Advisors LLC increased its stake in Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares during the period. Finally, Koch Industries Inc. acquired a new stake in Equity Residential during the first quarter worth $230,000. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Shares of Equity Residential (NYSE EQR) opened at 67.15 on Wednesday. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The stock has a market cap of $24.67 billion, a PE ratio of 30.04 and a beta of 0.34. The stock has a 50 day moving average of $66.98 and a 200 day moving average of $65.00.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. The firm had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities analysts anticipate that Equity Residential will post $1.48 earnings per share for the current fiscal year.
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EQR has been the topic of a number of research reports. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, July 18th. Finally, Barclays PLC upped their price target 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $68.00.
In other Equity Residential news, insider Michael L. Manelis sold 433 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total value of $29,023.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan W. George sold 28,157 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold 207,493 shares of company stock valued at $14,045,003 in the last ninety days. 3.79% of the stock is owned by corporate 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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