Tredje AP fonden Decreases Position in Equity Residential (NYSE:EQR)

Tredje AP fonden lowered its position in Equity Residential (NYSE:EQR) by 27.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,047 shares of the real estate investment trust’s stock after selling 10,061 shares during the quarter. Tredje AP fonden’s holdings in Equity Residential were worth $2,212,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of Equity Residential by 111.1% in the 1st quarter. First Horizon Advisors Inc. now owns 477 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 251 shares in the last quarter. TFG Advisers LLC acquired a new position in Equity Residential during the fourth quarter worth about $33,000. WASHINGTON TRUST Co acquired a new position in Equity Residential during the first quarter worth about $42,000. TCI Wealth Advisors Inc. lifted its holdings in shares of Equity Residential by 2,363.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 542 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 520 shares in the last quarter. Finally, Ellevest Inc. grew its position in shares of Equity Residential by 68.1% in the first quarter. Ellevest Inc. now owns 765 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 310 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on EQR. Royal Bank of Canada reaffirmed a “hold” rating and issued a $85.00 target price on shares of Equity Residential in a research note on Monday, March 9th. SunTrust Banks cut their price target on Equity Residential from $82.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Zelman & Associates raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Piper Sandler dropped their price objective on Equity Residential from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Thursday, May 14th. Finally, Morgan Stanley reduced their target price on shares of Equity Residential from $90.00 to $56.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $74.67.

Shares of EQR stock traded down $0.53 during trading hours on Friday, hitting $57.40. 2,835,280 shares of the company were exchanged, compared to its average volume of 2,820,919. The firm has a fifty day moving average of $62.80 and a 200 day moving average of $75.84. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.80. Equity Residential has a 1 year low of $49.62 and a 1 year high of $89.55. The firm has a market cap of $21.56 billion, a PE ratio of 18.45, a PEG ratio of 3.69 and a beta of 0.67.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $682.31 million for the quarter, compared to analyst estimates of $686.02 million. Equity Residential had a return on equity of 11.20% and a net margin of 43.16%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. Analysts expect that Equity Residential will post 3.41 earnings per share for the current year.

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

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