Zurcher Kantonalbank Zurich Cantonalbank Has $13.38 Million Holdings in Equity Residential (EQR)
Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Equity Residential (NYSE:EQR) by 2.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 202,998 shares of the real estate investment trust’s stock after purchasing an additional 4,309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Equity Residential worth $13,384,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in EQR. US Bancorp DE grew its position in Equity Residential by 22.7% during the 2nd quarter. US Bancorp DE now owns 51,670 shares of the real estate investment trust’s stock worth $3,402,000 after purchasing an additional 9,556 shares during the period. PGGM Investments grew its position in shares of Equity Residential by 9.1% during the 2nd quarter. PGGM Investments now owns 7,151,938 shares of the real estate investment trust’s stock valued at $470,812,000 after acquiring an additional 597,428 shares during the period. Breton Hill Capital Ltd. acquired a new stake in shares of Equity Residential during the 2nd quarter valued at about $329,000. Parametrica Management Ltd acquired a new stake in shares of Equity Residential during the 2nd quarter valued at about $381,000. Finally, LGT Capital Partners LTD. grew its position in shares of Equity Residential by 6.5% during the 2nd quarter. LGT Capital Partners LTD. now owns 109,790 shares of the real estate investment trust’s stock valued at $7,227,000 after acquiring an additional 6,720 shares during the period. 91.63% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on EQR shares. TheStreet upgraded Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. SunTrust Banks, Inc. set a $71.00 target price on Equity Residential and gave the company a “buy” rating in a research report on Tuesday, October 24th. Mizuho upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Monday, November 6th. Finally, Barclays PLC lifted their price objective on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $69.40.
In related news, EVP Bruce C. Strohm sold 10,000 shares of Equity Residential stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $68.50, for a total value of $685,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Samuel Zell sold 91,651 shares of Equity Residential stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $67.17, for a total transaction of $6,156,197.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,380 shares of company stock worth $28,348,622. Corporate insiders own 3.79% of the company’s stock.
Equity Residential (NYSE EQR) traded up $0.04 during mid-day trading on Thursday, hitting $68.14. 1,318,300 shares of the stock traded hands, compared to its average volume of 1,695,209. The stock has a market cap of $25,025.71, a price-to-earnings ratio of 21.97, a PEG ratio of 3.44 and a beta of 0.37. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. Equity Residential has a 1 year low of $58.45 and a 1 year high of $70.46.
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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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