Ontario Teachers Pension Plan Board Lowers Stake in Equity Residential (NYSE:EQR)

Ontario Teachers Pension Plan Board lowered its stake in shares of Equity Residential (NYSE:EQR) by 55.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,851 shares of the real estate investment trust’s stock after selling 31,659 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Equity Residential were worth $1,595,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Equity Residential by 111.1% during the 1st quarter. First Horizon Advisors Inc. now owns 477 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 251 shares during the period. TFG Advisers LLC purchased a new position in shares of Equity Residential during the 4th quarter worth approximately $33,000. WASHINGTON TRUST Co purchased a new position in shares of Equity Residential during the 1st quarter worth approximately $42,000. TCI Wealth Advisors Inc. boosted its position in shares of Equity Residential by 2,363.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 542 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 520 shares during the period. Finally, Ellevest Inc. boosted its position in shares of Equity Residential by 68.1% during the 1st quarter. Ellevest Inc. now owns 765 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 310 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.

Shares of EQR opened at $57.93 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The stock has a market cap of $21.93 billion, a P/E ratio of 18.45, a PEG ratio of 3.75 and a beta of 0.67. The company has a 50-day moving average of $62.86 and a two-hundred day moving average of $75.99. Equity Residential has a 12-month low of $49.62 and a 12-month high of $89.55.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The business had revenue of $682.31 million for the quarter, compared to analyst estimates of $686.02 million. Equity Residential had a return on equity of 11.20% and a net margin of 43.16%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, analysts forecast that Equity Residential will post 3.41 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Equity Residential from $87.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Deutsche Bank reduced their target price on shares of Equity Residential from $76.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating in a report on Monday. Piper Sandler reduced their target price on shares of Equity Residential from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Thursday, May 14th. Finally, BTIG Research upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, March 10th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.67.

About Equity Residential

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

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