November 28, 2016 - By Linda Rogers · 0 Comments
Equity Residential (NYSE:EQR) institutional sentiment decreased to 0.79 in Q2 2016. Its down -0.35, from 1.14 in 2016Q1. The ratio fall, as 222 hedge funds started new and increased holdings, while 195 reduced and sold their equity positions in Equity Residential. The hedge funds in our partner’s database now possess: 338.61 million shares, down from 357.82 million shares in 2016Q1. Also, the number of hedge funds holding Equity Residential in their top 10 holdings decreased from 22 to 19 for a decrease of 3. Sold All: 41 Reduced: 154 Increased: 161 New Position: 61.
Equity Residential is a real estate investment trust. The company has a market cap of $21.81 billion. The Firm is focused on the acquisition, development and management of apartment properties in various markets of the United States. It has a 5.14 P/E ratio. The Company’s divisions include Boston, New York, San Francisco, Seattle, Southern California, Washington D.C., Non-core – South Florida, Non-core – Denver, and Non-core – other.
The stock increased 0.19% or $0.11 on November 25, hitting $59.43. About 7 shares traded hands. Equity Residential (NYSE:EQR) has declined 16.60% since April 25, 2016 and is downtrending. It has underperformed by 22.62% the S&P500.
Analysts await Equity Residential (NYSE:EQR) to report earnings on February, 7. They expect $0.79 earnings per share, down 14.13% or $0.13 from last year’s $0.92 per share. EQR’s profit will be $289.92M for 18.81 P/E if the $0.79 EPS becomes a reality. After $0.78 actual earnings per share reported by Equity Residential for the previous quarter, Wall Street now forecasts 1.28% EPS growth.
According to Zacks Investment Research, “Equity Residential Prop. is a self-administered and self-managed equity real estate investment trust. The company’s subsidiaries include the Operating Partnership, a series of management limited partnerships and companies, the Financing Partnerships, the limited liability companies, and certain other entities.”
Security Capital Research & Management Inc holds 11.03% of its portfolio in Equity Residential for 4.72 million shares. Green Street Investors Llc owns 189,100 shares or 10.63% of their US portfolio. Moreover, Lasalle Investment Management Securities Llc has 8.64% invested in the company for 13.34 million shares. The Quebec – Canada-based Presima Inc. has invested 7.42% in the stock. Apg Asset Management Us Inc., a New York-based fund reported 13.11 million shares.#img1#
Ratings analysis reveals 22% of Equity Residential’s analysts are positive. Out of 18 Wall Street analysts rating Equity Residential, 4 give it “Buy”, 1 “Sell” rating, while 13 recommend “Hold”. The lowest target is $62 while the high is $91. The stock’s average target of $76.46 is 28.66% above today’s ($59.43) share price. EQR was included in 40 notes of analysts from July 21, 2015. SunTrust initiated Equity Residential (NYSE:EQR) on Tuesday, July 21 with “Neutral” rating. The stock of Equity Residential (NYSE:EQR) has “Buy” rating given on Tuesday, September 8 by Evercore. The company was maintained on Tuesday, October 27 by Mizuho. The stock of Equity Residential (NYSE:EQR) has “Buy” rating given on Thursday, June 2 by SunTrust. The stock of Equity Residential (NYSE:EQR) has “Market Outperform” rating given on Tuesday, September 15 by JMP Securities. The rating was maintained by RBC Capital Markets on Monday, February 8 with “Sector Perform”. Argus Research maintained Equity Residential (NYSE:EQR) rating on Monday, November 23. Argus Research has “Buy” rating and $88 price target. As per Monday, October 31, the company rating was upgraded by Mizuho. On Monday, November 9 the stock rating was downgraded by Miller Tabak to “Sell”. As per Tuesday, January 19, the company rating was downgraded by JMP Securities.
Equity Residential, incorporated on July 21, 1992, is a real estate investment trust. The Firm is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s divisions include Boston, New York, San Francisco, Seattle, Southern California, Washington D.C., Non-core – South Florida, Non-core – Denver, and Non-core – other. ERP Operating Limited Partnership (Operating Partnership) conducts the multifamily residential property business of the Company. The Company’s property ownership, development and related business are conducted through the Operating Partnership. The Firm holds interests in approximately 390 properties located in over 10 states and the District of Columbia, consisting of approximately 109,650 apartment units.
More recent Equity Residential (NYSE:EQR) news were published by: Bloomberg.com which released: “Equity Residential Falls After Third Revenue-Forecast Cut” on July 27, 2016. Also Therealdeal.com published the news titled: “Equity Residential ditches Trump name at UWS rentals following tenant petition” on November 15, 2016. Seekingalpha.com‘s news article titled: “AvalonBay, Equity Residential, And UDR: The Coasts Are Still A Negative Sign” with publication date: November 01, 2016 was also an interesting one.
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By Linda Rogers