The US Bancorp DE Has $2.62 Million Stake in Equity Residential (EQR)

The US Bancorp DE Has $2.62 Million Stake in Equity Residential (EQR)

Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after buying an additional 11,260,624 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Equity Residential by 83.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,857,263 shares of the real estate investment trust’s stock worth $698,448,000 after buying an additional 4,937,766 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Equity Residential by 78.8% in the third quarter. Daiwa Securities Group Inc. now owns 6,962,794 shares of the real estate investment trust’s stock worth $447,916,000 after buying an additional 3,068,125 shares during the last quarter. Norges Bank acquired a new stake in shares of Equity Residential during the fourth quarter worth about $196,371,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Equity Residential during the fourth quarter worth about $93,534,000. 96.62% of the stock is owned by institutional investors and hedge funds.

US Bancorp DE increased its position in Equity Residential (NYSE:EQR) by 10.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,114 shares of the real estate investment trust’s stock after buying an additional 4,003 shares during the period. US Bancorp DE’s holdings in Equity Residential were worth $2,621,000 as of its most recent filing with the SEC.

Equity Residential (NYSE EQR) opened at 66.72 on Monday. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 29.01 and a beta of 0.32. Equity Residential has a 12-month low of $58.28 and a 12-month high of $71.53. The stock has a 50 day moving average price of $64.87 and a 200-day moving average price of $62.95.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Equity Residential had a return on equity of 40.11% and a net margin of 176.91%. The firm had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $605.69 million. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Equity Residential will post $1.35 earnings per share for the current year. Several equities analysts have weighed in on EQR shares. Evercore ISI downgraded Equity Residential from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. Barclays PLC lifted their price objective on Equity Residential from $61.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. Cantor Fitzgerald reiterated a “hold” rating and issued a $63.00 price objective on shares of Equity Residential in a research note on Wednesday, February 15th. Finally, Argus set a $75.00 price objective on Equity Residential and gave the company a “buy” rating in a research note on Thursday, April 27th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Equity Residential has an average rating of “Hold” and an average price target of $66.15.

In other news, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by company insiders. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EQR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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