Meiji Yasuda Life Insurance Co lessened its holdings in Equity Residential (NYSE:EQR) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the real estate investment trust’s stock after selling 1,980 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Equity Residential were worth $329,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in Equity Residential by 124.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 872 shares in the last quarter. Girard Partners LTD. acquired a new stake in Equity Residential during the 2nd quarter valued at $209,000. Dynamic Technology Lab Private Ltd acquired a new position in Equity Residential during the 1st quarter worth $218,000. Hedeker Wealth LLC acquired a new position in Equity Residential during the 2nd quarter worth $225,000. Finally, Anchor Capital Advisors LLC grew its holdings in Equity Residential by 1.4% during the 1st quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 50 shares in the last quarter. 91.11% of the stock is currently owned by institutional investors and hedge funds.
In other Equity Residential news, CEO David J. Neithercut sold 75,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $68.10, for a total value of $5,107,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce C. Strohm sold 10,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $68.50, for a total value of $685,000.00. The disclosure for this sale can be found here. Insiders sold a total of 173,622 shares of company stock valued at $11,816,599 in the last 90 days. Corporate insiders own 3.79% of the company’s stock.
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EQR has been the subject of several research reports. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a report on Thursday, July 6th. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $67.00 price objective on shares of Equity Residential in a research report on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $66.00 price target on shares of Equity Residential in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $68.21.
Equity Residential (NYSE:EQR) traded down 0.22% during mid-day trading on Friday, reaching $67.24. 1,026,680 shares of the company’s stock were exchanged. The company has a market cap of $24.70 billion, a PE ratio of 30.09 and a beta of 0.36. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83. The stock has a 50-day moving average price of $67.56 and a 200 day moving average price of $65.52.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. Equity Residential’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. Equities analysts predict that Equity Residential will post $1.48 earnings per share for the current fiscal year.
About Equity Residential
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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