Sentry Investment Management LLC raised its stake in Equity Residential (NYSE:EQR) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 28,394 shares of the real estate investment trust’s stock after buying an additional 832 shares during the period. Sentry Investment Management LLC’s holdings in Equity Residential were worth $1,827,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Cornerstone Advisors Inc. increased its position in shares of Equity Residential by 22.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,604 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 297 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Equity Residential during the second quarter valued at about $146,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Equity Residential during the second quarter valued at about $165,000. Invictus RG purchased a new position in shares of Equity Residential during the second quarter valued at about $224,000. Finally, Lebenthal Holdings LLC increased its position in shares of Equity Residential by 3.3% in the second quarter. Lebenthal Holdings LLC now owns 3,312 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 107 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.
Equity Residential (NYSE:EQR) opened at 59.21 on Friday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 5.16 and a beta of 0.37. Equity Residential has a 12 month low of $58.28 and a 12 month high of $82.39. The company’s 50 day moving average is $60.69 and its 200-day moving average is $65.20.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by $0.01. Equity Residential had a net margin of 167.17% and a return on equity of 39.22%. The business had revenue of $606.07 million for the quarter, compared to analyst estimates of $602.10 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was down 13.0% on a year-over-year basis. On average, analysts expect that Equity Residential will post $3.08 earnings per share for the current fiscal year.
EQR has been the topic of several analyst reports. Barclays PLC reiterated a “hold” rating and issued a $66.00 target price on shares of Equity Residential in a research note on Thursday, November 3rd. Citigroup Inc. reiterated a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research note on Friday, September 30th. Capital One Financial Corp. cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating in a report on Monday, August 1st. BTIG Research began coverage on shares of Equity Residential in a report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $68.83.
About Equity Residential
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.