Crabel Capital Management LLC Acquires New Position in Equity Residential (NYSE:EQR)

Crabel Capital Management LLC bought a new position in shares of Equity Residential (NYSE:EQR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,034 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other hedge funds have also recently added to or reduced their stakes in EQR. Norges Bank bought a new stake in shares of Equity Residential during the fourth quarter worth $1,249,322,000. Oregon Public Employees Retirement Fund raised its position in shares of Equity Residential by 6,420.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,632,545 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 2,592,169 shares during the last quarter. BlackRock Inc. raised its position in shares of Equity Residential by 5.8% during the fourth quarter. BlackRock Inc. now owns 41,246,537 shares of the real estate investment trust’s stock worth $2,722,686,000 after acquiring an additional 2,256,566 shares during the last quarter. Barings LLC bought a new stake in shares of Equity Residential during the fourth quarter worth $74,003,000. Finally, Centersquare Investment Management LLC raised its position in shares of Equity Residential by 39.4% during the first quarter. Centersquare Investment Management LLC now owns 3,885,671 shares of the real estate investment trust’s stock worth $292,669,000 after acquiring an additional 1,097,577 shares during the last quarter. Institutional investors own 88.05% of the company’s stock.

EQR has been the subject of a number of recent research reports. Argus boosted their target price on Equity Residential to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Barclays boosted their target price on Equity Residential from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets restated a “hold” rating and set a $78.00 target price on shares of Equity Residential in a research report on Monday, March 25th. Finally, Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 target price for the company in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Equity Residential presently has an average rating of “Hold” and a consensus target price of $72.52.

NYSE EQR opened at $77.93 on Friday. The stock has a market capitalization of $28.77 billion, a P/E ratio of 23.53, a P/E/G ratio of 3.86 and a beta of 0.54. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.88. Equity Residential has a 12 month low of $61.67 and a 12 month high of $78.54.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.53). The company had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. On average, equities research analysts predict that Equity Residential will post 3.4 EPS for the current year.

In related news, CEO Mark J. Parrell sold 59,385 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $76.60, for a total value of $4,548,891.00. Following the completion of the sale, the chief executive officer now owns 79,782 shares in the company, valued at $6,111,301.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan W. George sold 30,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $77.24, for a total value of $2,317,200.00. Following the completion of the sale, the insider now owns 86,582 shares of the company’s stock, valued at approximately $6,687,593.68. The disclosure for this sale can be found here. Insiders sold 199,118 shares of company stock valued at $15,185,655 in the last quarter. 3.75% of the stock is currently owned by corporate insiders.

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Equity Residential Company Profile

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

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