Fmr LLC Reduces Stake in Equity Residential (EQR)

Fmr LLC cut its stake in Equity Residential (NYSE:EQR) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,231,720 shares of the real estate investment trust’s stock after selling 428,999 shares during the quarter. Fmr LLC owned approximately 2.78% of Equity Residential worth $677,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Landaas & Co. WI ADV acquired a new position in Equity Residential during the second quarter worth $101,000. Stelac Advisory Services LLC acquired a new position in Equity Residential during the third quarter worth $120,000. Bbva Compass Bancshares Inc. acquired a new position in Equity Residential during the third quarter worth $137,000. Lenox Wealth Management Inc. acquired a new position in Equity Residential during the third quarter worth $426,000. Finally, Girard Partners LTD. acquired a new position in Equity Residential during the second quarter worth $203,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, President Mark J. Parrell sold 37,294 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $67.60, for a total value of $2,521,074.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gerald A. Spector sold 13,024 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total transaction of $879,120.00. Following the completion of the transaction, the insider now directly owns 294,287 shares of the company’s stock, valued at approximately $19,864,372.50. The disclosure for this sale can be found here. Insiders sold 200,532 shares of company stock valued at $13,543,569 in the last three months. Company insiders own 3.75% of the company’s stock.

NYSE EQR opened at $69.11 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a twelve month low of $54.97 and a twelve month high of $70.27. The stock has a market capitalization of $25.46 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.53 and a beta of 0.40.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.23). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company had revenue of $652.87 million during the quarter, compared to the consensus estimate of $645.77 million. During the same quarter in the previous year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Equity Residential will post 3.26 earnings per share for the current year.

Several equities analysts have commented on EQR shares. Wells Fargo & Co set a $70.00 target price on shares of Equity Residential and gave the stock a “hold” rating in a research report on Thursday, November 1st. Argus upped their price target on shares of Equity Residential from $70.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 30th. Deutsche Bank increased their target price on shares of Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. ValuEngine upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Finally, Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Monday, November 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.06.

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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 306 properties consisting of 79,260 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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