LMR Partners LLP lifted its position in Equity Residential (NYSE:EQR) by 41.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,794 shares of the real estate investment trust’s stock after buying an additional 3,141 shares during the period. LMR Partners LLP’s holdings in Equity Residential were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of Equity Residential by 124.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Equity Residential by 4.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 73 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Equity Residential by 22,450.0% in the 2nd quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 2,694 shares during the last quarter. Girard Partners LTD. purchased a new position in shares of Equity Residential in the 2nd quarter worth $209,000. Finally, Prudential PLC purchased a new position in shares of Equity Residential in the 2nd quarter worth $209,000. Hedge funds and other institutional investors own 91.63% of the company’s stock.
In other news, CEO David J. Neithercut sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $7,017,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bruce C. Strohm sold 10,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $68.50, for a total value of $685,000.00. The disclosure for this sale can be found here. Insiders sold 412,380 shares of company stock worth $28,348,622 over the last 90 days. Company insiders own 3.79% of the company’s stock.
Equity Residential (NYSE EQR) opened at $68.21 on Friday. Equity Residential has a 52-week low of $58.94 and a 52-week high of $70.46. The company has a market capitalization of $25,066.15, a PE ratio of 22.00, a PEG ratio of 3.45 and a beta of 0.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.24 and a quick ratio of 0.24.
Several equities analysts recently weighed in on EQR shares. Robert W. Baird reiterated a “hold” rating and set a $70.00 target price on shares of Equity Residential in a research report on Friday, November 10th. Mizuho upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Monday, November 6th. Jefferies Group LLC reiterated a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research report on Sunday, September 10th. Barclays PLC lifted their target price on Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $69.40.
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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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