Equity Residential (EQR) Position Lowered by Raymond James & Associates

Raymond James & Associates cut its position in shares of Equity Residential (NYSE:EQR) by 6.3% in the first quarter, HoldingsChannel.com reports. The firm owned 186,364 shares of the real estate investment trust’s stock after selling 12,552 shares during the quarter. Raymond James & Associates’ holdings in Equity Residential were worth $14,037,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in Equity Residential during the 4th quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new stake in Equity Residential during the 1st quarter valued at about $30,000. Rational Advisors LLC bought a new stake in Equity Residential during the 4th quarter valued at about $31,000. Braun Bostich & Associates Inc. lifted its holdings in 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 bought a new stake in Equity Residential during the 4th quarter valued at about $38,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

EQR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Raymond James upgraded shares of Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 price objective for the company in a report on Thursday, April 11th. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Equity Residential in a report on Monday, March 25th. Evercore ISI lowered shares of Equity Residential from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. Finally, Barclays boosted their price target on shares of Equity Residential from $73.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Equity Residential has an average rating of “Hold” and an average price target of $72.77.

In other Equity Residential news, Director Linda Bynoe sold 10,677 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $74.90, for a total transaction of $799,707.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark J. Parrell sold 59,385 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $76.60, for a total transaction of $4,548,891.00. Following the sale, the chief executive officer now directly owns 79,782 shares in the company, valued at approximately $6,111,301.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,346 shares of company stock worth $17,282,589. 3.75% of the stock is owned by insiders.

NYSE:EQR opened at $77.11 on Friday. Equity Residential has a one year low of $60.58 and a one year high of $77.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $28.29 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 3.80 and a beta of 0.58.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.53). The business 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 firm posted $0.77 EPS. Research analysts forecast that Equity Residential will post 3.4 earnings per share for the current year.

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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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