Equity Residential (EQR) Position Boosted by 6 Meridian

6 Meridian boosted its stake in Equity Residential (NYSE:EQR) by 21.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,046 shares of the real estate investment trust’s stock after buying an additional 1,403 shares during the period. 6 Meridian’s holdings in Equity Residential were worth $496,000 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. Forsta AP Fonden boosted its position in shares of Equity Residential by 3.8% during the 1st quarter. Forsta AP Fonden now owns 143,900 shares of the real estate investment trust’s stock valued at $8,867,000 after purchasing an additional 5,300 shares in the last quarter. Intact Investment Management Inc. boosted its position in shares of Equity Residential by 1,477.5% during the 1st quarter. Intact Investment Management Inc. now owns 63,100 shares of the real estate investment trust’s stock valued at $3,887,000 after purchasing an additional 59,100 shares in the last quarter. US Bancorp DE boosted its position in shares of Equity Residential by 50.2% during the 1st quarter. US Bancorp DE now owns 59,194 shares of the real estate investment trust’s stock valued at $3,648,000 after purchasing an additional 19,773 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Equity Residential by 9.9% during the 1st quarter. Riverhead Capital Management LLC now owns 15,255 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America boosted its position in shares of Equity Residential by 19.8% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 467,461 shares of the real estate investment trust’s stock valued at $28,805,000 after purchasing an additional 77,226 shares in the last quarter. Hedge funds and other institutional investors own 92.75% of the company’s stock.

EQR stock opened at $60.29 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.83. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 3.09 and a beta of 0.33. Equity Residential has a one year low of $54.97 and a one year high of $70.46.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). The company had revenue of $633.02 million during the quarter, compared to analysts’ expectations of $626.81 million. Equity Residential had a return on equity of 6.41% and a net margin of 26.83%. Equity Residential’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. sell-side analysts predict that Equity Residential will post 3.23 EPS for the current year.

Several research firms have recently weighed in on EQR. ValuEngine lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. SunTrust Banks set a $66.00 price objective on shares of Equity Residential and gave the company a “buy” rating in a research report on Monday, March 19th. Jefferies Group restated a “hold” rating and set a $62.00 price objective on shares of Equity Residential in a research report on Monday, February 5th. UBS upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, March 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Equity Residential from $64.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.53.

In other news, insider Barry Altshuler sold 5,182 shares of the stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $61.15, for a total value of $316,879.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.75% of the stock is owned by corporate insiders.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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