Green Street Investors LLC raised its position in shares of Equity Residential (NYSE:EQR) by 46.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 258,300 shares of the real estate investment trust’s stock after purchasing an additional 81,700 shares during the quarter. Equity Residential accounts for approximately 10.8% of Green Street Investors LLC’s holdings, making the stock its biggest position. Green Street Investors LLC’s holdings in Equity Residential were worth $19,455,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Equity Residential during the 4th quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Equity Residential during the 1st quarter valued at about $30,000. Rational Advisors LLC purchased a new position in shares of Equity Residential during the 4th quarter valued at about $31,000. Braun Bostich & Associates Inc. lifted its position in shares of Equity Residential by 38.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 142 shares in the last quarter. Finally, Liberty Wealth Management LLC purchased a new position in shares of Equity Residential during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 92.04% of the company’s stock.
NYSE EQR opened at $76.62 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a 12 month low of $59.29 and a 12 month high of $77.69. The company has a market capitalization of $28.39 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 3.81 and a beta of 0.58.
In related news, insider Alan W. George sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $76.26, for a total value of $2,669,100.00. Following the transaction, the insider now directly owns 91,582 shares of the company’s stock, valued at approximately $6,984,043.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David J. Neithercut sold 36,353 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $76.33, for a total value of $2,774,824.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,997 shares of company stock worth $15,013,752. 3.75% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price objective on shares of Equity Residential in a research report on Monday, March 25th. Evercore ISI cut Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Barclays reaffirmed a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research report on Wednesday, January 23rd. Finally, Argus lifted their price objective on Equity Residential to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.48.
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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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