Citizens Financial Group Inc RI lowered its stake in shares of Equity Residential (NYSE:EQR) by 95.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,776 shares of the real estate investment trust’s stock after selling 64,052 shares during the period. Citizens Financial Group Inc RI’s holdings in Equity Residential were worth $171,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Equity Residential during the 4th quarter worth approximately $1,932,241,000. Macquarie Group Ltd. raised its stake in shares of Equity Residential by 9.0% during the 4th quarter. Macquarie Group Ltd. now owns 10,897,167 shares of the real estate investment trust’s stock worth $881,798,000 after purchasing an additional 903,722 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Equity Residential by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 6,954,412 shares of the real estate investment trust’s stock worth $561,833,000 after purchasing an additional 356,136 shares in the last quarter. PGGM Investments raised its stake in shares of Equity Residential by 0.9% during the 1st quarter. PGGM Investments now owns 6,482,912 shares of the real estate investment trust’s stock worth $400,060,000 after purchasing an additional 60,798 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Equity Residential by 0.8% during the 4th quarter. Boston Partners now owns 5,726,401 shares of the real estate investment trust’s stock worth $463,337,000 after purchasing an additional 46,984 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.
Shares of NYSE EQR opened at $57.93 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s fifty day moving average price is $62.80 and its two-hundred day moving average price is $75.84. Equity Residential has a one year low of $49.62 and a one year high of $89.55. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 3.69 and a beta of 0.67.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Equity Residential had a net margin of 43.16% and a return on equity of 11.20%. The firm had revenue of $682.31 million during the quarter, compared to analyst estimates of $686.02 million. During the same period in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Equity Residential will post 3.41 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Robert W. Baird upgraded Equity Residential from an “underperform” rating to a “neutral” rating and set a $73.00 price objective on the stock in a research note on Tuesday, March 17th. SunTrust Banks dropped their price objective on Equity Residential from $82.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Deutsche Bank decreased their target price on Equity Residential from $76.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. BTIG Research raised Equity Residential from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, March 10th. Finally, Evercore ISI raised Equity Residential from an “underperform” rating to an “in-line” rating and set a $68.00 target price on the stock in a report on Monday, May 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. Equity Residential has an average rating of “Hold” and an average target price of $74.67.
Equity Residential 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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