Voya Investment Management LLC trimmed its position in Equity Residential (NYSE:EQR) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,837 shares of the real estate investment trust’s stock after selling 5,093 shares during the period. Voya Investment Management LLC’s holdings in Equity Residential were worth $14,219,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. NEXT Financial Group Inc bought a new position in Equity Residential in the 2nd quarter valued at $34,000. Advisory Services Network LLC lifted its holdings in shares of Equity Residential by 14.9% during the 2nd quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 457 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of Equity Residential by 31.4% during the 2nd quarter. Cibc World Markets Corp now owns 64,380 shares of the real estate investment trust’s stock worth $4,888,000 after acquiring an additional 15,393 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Equity Residential during the 2nd quarter worth $90,000. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Equity Residential by 58.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 39,696 shares of the real estate investment trust’s stock worth $3,424,000 after acquiring an additional 14,638 shares during the last quarter. 88.92% of the stock is owned by hedge funds and other institutional investors.
NYSE EQR opened at $83.50 on Tuesday. Equity Residential has a 52-week low of $63.17 and a 52-week high of $89.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $31.60 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.97 and a beta of 0.42. The company has a fifty day moving average of $86.42 and a 200-day moving average of $82.17.
A number of analysts have recently issued reports on EQR shares. Barclays reaffirmed a “hold” rating and set a $87.00 price objective on shares of Equity Residential in a report on Sunday, October 13th. Morgan Stanley lifted their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Robert W. Baird downgraded shares of Equity Residential from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $78.00 to $81.00 in a report on Monday, October 14th. Zacks Investment Research downgraded shares of Equity Residential from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a report on Monday. Finally, ValuEngine downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $82.47.
In other Equity Residential news, Director Charles L. Atwood sold 10,500 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $87.85, for a total value of $922,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael L. Manelis sold 4,275 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $87.16, for a total transaction of $372,609.00. The disclosure for this sale can be found here. Insiders sold 33,430 shares of company stock valued at $2,952,270 over the last three months. 2.40% of the stock is currently owned by insiders.
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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