Wells Fargo & Company MN raised its position in Equity Residential (NYSE:EQR) by 12.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 888,615 shares of the real estate investment trust’s stock after purchasing an additional 97,897 shares during the period. Wells Fargo & Company MN’s holdings in Equity Residential were worth $56,666,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. First Trust Advisors LP lifted its holdings in Equity Residential by 6.2% in the 4th quarter. First Trust Advisors LP now owns 481,988 shares of the real estate investment trust’s stock valued at $30,736,000 after purchasing an additional 28,141 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Equity Residential by 1.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 669,752 shares of the real estate investment trust’s stock worth $42,710,000 after acquiring an additional 9,544 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of Equity Residential by 77.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,708,255 shares of the real estate investment trust’s stock worth $108,935,000 after acquiring an additional 744,642 shares during the last quarter. Sentry Investment Management LLC increased its stake in shares of Equity Residential by 40.4% in the 4th quarter. Sentry Investment Management LLC now owns 8,712 shares of the real estate investment trust’s stock worth $556,000 after acquiring an additional 2,507 shares during the last quarter. Finally, Ffcm LLC increased its stake in shares of Equity Residential by 23.0% in the 4th quarter. Ffcm LLC now owns 81,213 shares of the real estate investment trust’s stock worth $5,179,000 after acquiring an additional 15,190 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.
A number of brokerages have issued reports on EQR. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a research note on Friday, November 10th. Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, November 6th. BMO Capital Markets reissued a “hold” rating and set a $69.00 price objective on shares of Equity Residential in a research report on Monday, November 27th. Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus cut their price objective on Equity Residential from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $67.75.
Equity Residential (NYSE:EQR) opened at $57.13 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $20,981.98, a PE ratio of 18.15, a PEG ratio of 2.97 and a beta of 0.34. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.47). The company had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. sell-side analysts expect that Equity Residential will post 3.23 earnings per share for the current fiscal year.
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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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