JPMorgan Chase & Co. Reduces Stake in Equity Residential (EQR)

JPMorgan Chase & Co. trimmed its stake in shares of Equity Residential (NYSE:EQR) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,848,535 shares of the real estate investment trust’s stock after selling 41,912 shares during the quarter. JPMorgan Chase & Co. owned about 1.59% of Equity Residential worth $360,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Eii Capital Management Inc. raised its position in shares of Equity Residential by 177.3% during the 4th quarter. Eii Capital Management Inc. now owns 74,444 shares of the real estate investment trust’s stock worth $4,747,000 after purchasing an additional 47,596 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Equity Residential by 15.5% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 84,100 shares of the real estate investment trust’s stock worth $5,363,000 after purchasing an additional 11,300 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Equity Residential by 6.2% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 31,843 shares of the real estate investment trust’s stock worth $2,031,000 after purchasing an additional 1,869 shares during the period. Teachers Insurance & Annuity Association of America raised its position in shares of Equity Residential by 9.7% during the 4th quarter. Teachers Insurance & Annuity Association of America now owns 390,235 shares of the real estate investment trust’s stock worth $24,885,000 after purchasing an additional 34,597 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Equity Residential by 6.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,036 shares of the real estate investment trust’s stock worth $1,724,000 after purchasing an additional 1,666 shares during the period. Institutional investors and hedge funds own 92.75% of the company’s stock.

EQR opened at $61.76 on Friday. Equity Residential has a 12 month low of $54.97 and a 12 month high of $70.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $22.74 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 3.20 and a beta of 0.33.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 24th. The real estate investment trust reported $0.57 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.21). The business had revenue of $633.02 million during the quarter, compared to analyst estimates of $626.81 million. Equity Residential had a net margin of 26.83% and a return on equity of 6.41%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. research analysts expect that Equity Residential will post 3.23 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on EQR shares. Stifel Nicolaus dropped their price target on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, February 1st. Jefferies Group reiterated a “hold” rating and set a $62.00 price target on shares of Equity Residential in a research report on Monday, February 5th. Cantor Fitzgerald set a $66.00 price target on Equity Residential and gave the stock a “hold” rating in a research report on Monday, February 5th. Mizuho set a $67.00 price target on Equity Residential and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $66.00 target price (down from $69.00) on shares of Equity Residential in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.53.

In other Equity Residential news, insider Barry Altshuler sold 5,182 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $61.15, for a total transaction of $316,879.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David S. Santee sold 1,928 shares of the stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $61.55, for a total value of $118,668.40. The disclosure for this sale can be found here. Company insiders own 3.75% of the company’s stock.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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

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