Cohen & Steers Inc. boosted its holdings in Equity Residential (NYSE:EQR) by 109.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,548,725 shares of the real estate investment trust’s stock after purchasing an additional 7,600,203 shares during the quarter. Equity Residential comprises 2.6% of Cohen & Steers Inc.’s portfolio, making the stock its 8th largest position. Cohen & Steers Inc. owned approximately 3.96% of Equity Residential worth $959,197,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its holdings in Equity Residential by 2.3% in the second quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock worth $2,277,386,000 after purchasing an additional 794,065 shares during the period. Daiwa Securities Group Inc. grew its holdings in Equity Residential by 113.9% in the third quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock worth $509,256,000 after purchasing an additional 4,112,438 shares during the period. PGGM Investments grew its holdings in Equity Residential by 1.7% in the third quarter. PGGM Investments now owns 7,272,978 shares of the real estate investment trust’s stock worth $479,507,000 after purchasing an additional 121,040 shares during the period. FMR LLC grew its holdings in Equity Residential by 16.4% in the second quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock worth $440,917,000 after purchasing an additional 945,524 shares during the period. Finally, Northern Trust Corp grew its holdings in Equity Residential by 0.7% in the second quarter. Northern Trust Corp now owns 6,191,537 shares of the real estate investment trust’s stock worth $407,588,000 after purchasing an additional 42,971 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.
A number of equities research analysts have weighed in on EQR shares. Stifel Nicolaus started coverage on shares of Equity Residential in a report on Friday, September 1st. They issued a “hold” rating and a $71.00 price objective on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 target price on shares of Equity Residential in a research note on Friday, November 10th. TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. SunTrust Banks set a $71.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $68.00 target price on shares of Equity Residential in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Equity Residential currently has a consensus rating of “Hold” and an average target price of $69.47.
Equity Residential (EQR) opened at $65.15 on Friday. Equity Residential has a 52 week low of $59.49 and a 52 week high of $70.46. The company has a market cap of $24,033.51, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 3.32 and a beta of 0.36. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86.
In other Equity Residential news, insider Alexander Brackenridge sold 6,497 shares of Equity Residential stock in a transaction on Friday, November 10th. The shares were sold at an average price of $69.41, for a total value of $450,956.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Neithercut sold 100,000 shares of Equity Residential stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total transaction of $7,017,000.00. The disclosure for this sale can be found here. Insiders sold a total of 402,380 shares of company stock valued at $27,663,622 over the last three months. Corporate insiders own 3.79% of the company’s stock.
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Equity Residential Company Profile
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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