Envestnet Asset Management Inc. decreased its position in shares of Equity Residential (NYSE:EQR) by 8.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 100,675 shares of the real estate investment trust’s stock after selling 9,760 shares during the period. Envestnet Asset Management Inc.’s holdings in Equity Residential were worth $7,583,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in shares of Equity Residential in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in Equity Residential in the first quarter worth $30,000. Rational Advisors LLC purchased a new stake in Equity Residential in the fourth quarter worth $31,000. Braun Bostich & Associates Inc. grew its position in shares of Equity Residential by 38.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Finally, Liberty Wealth Management LLC purchased a new position in shares of Equity Residential in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 price target for the company in a research note on Thursday, April 11th. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price target on shares of Equity Residential in a research note on Monday, March 25th. Evercore ISI lowered Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Finally, Barclays increased their price target on Equity Residential from $73.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.52.
Equity Residential stock opened at $77.80 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.88. Equity Residential has a 1 year low of $61.67 and a 1 year high of $78.54. The company has a market capitalization of $28.89 billion, a P/E ratio of 23.94, a P/E/G ratio of 3.88 and a beta of 0.54.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.53). The company had revenue of $662.30 million during the quarter, compared to analyst estimates of $655.00 million. Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. On average, research analysts predict that Equity Residential will post 3.4 earnings per share for the current year.
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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