Equity Residential (NYSE:EQR) Stock Holdings Lifted by Green Street Investors LLC

Green Street Investors LLC increased its holdings in shares of Equity Residential (NYSE:EQR) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 201,500 shares of the real estate investment trust’s stock after purchasing an additional 1,400 shares during the period. Equity Residential comprises 10.2% of Green Street Investors LLC’s holdings, making the stock its largest holding. Green Street Investors LLC’s holdings in Equity Residential were worth $17,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Equity Residential by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 48,372,951 shares of the real estate investment trust’s stock valued at $3,672,474,000 after purchasing an additional 168,854 shares during the last quarter. Cohen & Steers Inc. grew its stake in Equity Residential by 74.6% during the 2nd quarter. Cohen & Steers Inc. now owns 6,812,818 shares of the real estate investment trust’s stock valued at $517,229,000 after purchasing an additional 2,911,036 shares during the last quarter. Invesco Ltd. grew its stake in Equity Residential by 4.0% during the 2nd quarter. Invesco Ltd. now owns 6,727,694 shares of the real estate investment trust’s stock valued at $510,766,000 after purchasing an additional 260,355 shares during the last quarter. Resolution Capital Ltd grew its stake in Equity Residential by 9.6% during the 3rd quarter. Resolution Capital Ltd now owns 4,798,695 shares of the real estate investment trust’s stock valued at $413,935,000 after purchasing an additional 421,500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Equity Residential by 3.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,574,204 shares of the real estate investment trust’s stock valued at $347,274,000 after purchasing an additional 143,855 shares during the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.

EQR has been the topic of several research analyst reports. Robert W. Baird downgraded Equity Residential from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $78.00 to $81.00 in a research note on Monday, October 14th. Morgan Stanley upped their target price on Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Goldman Sachs Group started coverage on Equity Residential in a research note on Friday. They issued a “sell” rating and a $86.00 target price on the stock. Argus upped their target price on Equity Residential from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, ValuEngine downgraded Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $82.16.

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In related news, Director David J. Neithercut sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $89.09, for a total value of $267,270.00. Following the completion of the transaction, the director now owns 3,392 shares of the company’s stock, valued at approximately $302,193.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan W. George sold 10,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $84.60, for a total value of $846,000.00. Following the completion of the transaction, the executive vice president now directly owns 31,280 shares of the company’s stock, valued at approximately $2,646,288. The disclosure for this sale can be found here. Insiders sold a total of 104,945 shares of company stock valued at $8,882,681 in the last ninety days. 3.75% of the stock is currently owned by insiders.

Shares of EQR traded down $0.09 during mid-day trading on Friday, reaching $83.98. The company had a trading volume of 966,498 shares, compared to its average volume of 1,406,390. Equity Residential has a 52-week low of $63.17 and a 52-week high of $89.55. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $31.49 billion, a P/E ratio of 25.84, a PEG ratio of 4.05 and a beta of 0.44. The stock has a 50 day moving average of $87.04 and a two-hundred day moving average of $81.07.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). The company had revenue of $685.15 million during the quarter, compared to analysts’ expectations of $679.66 million. Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, sell-side analysts expect that Equity Residential will post 3.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.5675 dividend. This is a boost from Equity Residential’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, September 27th. This represents a $2.27 dividend on an annualized basis and a yield of 2.70%. Equity Residential’s dividend payout ratio is presently 69.85%.

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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Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR).

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

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