M&T Bank Corp decreased its holdings in Equity Residential (NYSE:EQR) by 10.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,172 shares of the real estate investment trust’s stock after selling 2,655 shares during the quarter. M&T Bank Corp’s holdings in Equity Residential were worth $1,479,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of EQR. ING Groep NV purchased a new position in Equity Residential in the 4th quarter worth $2,228,000. BT Investment Management Ltd raised its stake in Equity Residential by 7.0% in the 4th quarter. BT Investment Management Ltd now owns 144,327 shares of the real estate investment trust’s stock worth $9,204,000 after acquiring an additional 9,431 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Equity Residential by 1.9% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 114,354 shares of the real estate investment trust’s stock worth $7,300,000 after acquiring an additional 2,080 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Equity Residential by 3.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 66,225 shares of the real estate investment trust’s stock worth $4,223,000 after acquiring an additional 2,272 shares during the last quarter. Finally, Resolution Capital Ltd raised its stake in Equity Residential by 9.3% in the 4th quarter. Resolution Capital Ltd now owns 1,586,004 shares of the real estate investment trust’s stock worth $101,139,000 after acquiring an additional 134,395 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.
Equity Residential (NYSE EQR) opened at $57.97 on Monday. The company has a quick ratio of 0.24, a current ratio of 0.29 and a debt-to-equity ratio of 0.86. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46. The firm has a market capitalization of $21,334.01, a PE ratio of 18.46, a P/E/G ratio of 3.02 and a beta of 0.34.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The business had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. During the same quarter in the prior year, the firm earned $0.79 EPS. Equity Residential’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts forecast that Equity Residential will post 3.23 earnings per share for the current year.
In related news, insider Ian Kaufman sold 684 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $39,795.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott Fenster sold 449 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $26,122.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,077 shares of company stock valued at $819,000. 3.79% of the stock is owned by company insiders.
A number of equities analysts have weighed in on EQR shares. Stifel Nicolaus reduced their price objective on Equity Residential from $71.00 to $68.00 and set a “hold” rating for the company in a research note on Friday, October 27th. Robert W. Baird reiterated a “hold” rating and set a $70.00 price objective on shares of Equity Residential in a research note on Friday, November 10th. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. TheStreet lowered Equity Residential from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. Finally, Mizuho upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.87.
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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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