TLP Group LLC Acquires 1,947 Shares of Equity Residential (EQR)

TLP Group LLC raised its holdings in Equity Residential (NYSE:EQR) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,819 shares of the real estate investment trust’s stock after purchasing an additional 1,947 shares during the period. Equity Residential accounts for about 0.5% of TLP Group LLC’s holdings, making the stock its 13th biggest position. TLP Group LLC’s holdings in Equity Residential were worth $790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its stake in Equity Residential by 2,976.2% during the fourth quarter. Assetmark Inc. now owns 1,938 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,875 shares in the last quarter. Optimum Investment Advisors purchased a new position in Equity Residential during the first quarter valued at approximately $173,000. Marco Investment Management LLC purchased a new position in Equity Residential during the fourth quarter valued at approximately $205,000. Bridges Investment Management Inc. purchased a new position in Equity Residential during the fourth quarter valued at approximately $206,000. Finally, Quantum Capital Management purchased a new position in Equity Residential during the first quarter valued at approximately $206,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Several equities research analysts have issued reports on the stock. UBS Group upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 19th. Sandler O’Neill reiterated a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research report on Tuesday, March 20th. SunTrust Banks set a $66.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research report on Monday, March 19th. ValuEngine upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, BMO Capital Markets set a $61.00 target price on shares of Equity Residential and gave the company a “hold” rating in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.60.

Shares of EQR traded up $0.31 during mid-day trading on Thursday, reaching $63.51. The company’s stock had a trading volume of 17,634 shares, compared to its average volume of 2,409,742. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.30 and a beta of 0.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 0.19. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.21). The business had revenue of $633.02 million during the quarter, compared to the consensus estimate of $626.81 million. Equity Residential had a return on equity of 6.41% and a net margin of 26.83%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. equities research analysts predict that Equity Residential will post 3.23 earnings per share for the current year.

In other news, CEO David J. Neithercut sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total value of $1,612,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David S. Santee sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $61.55, for a total transaction of $118,668.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,110 shares of company stock valued at $2,048,048. Company insiders own 3.75% of the company’s stock.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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

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