Long Pond Capital LP decreased its stake in Equity Residential (NYSE:EQR) by 44.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 995,780 shares of the real estate investment trust’s stock after selling 790,155 shares during the quarter. Equity Residential comprises 2.4% of Long Pond Capital LP’s portfolio, making the stock its 13th biggest holding. Long Pond Capital LP owned about 0.27% of Equity Residential worth $65,652,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in EQR. CIBC Asset Management Inc raised its position in Equity Residential by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 39,453 shares of the real estate investment trust’s stock valued at $2,597,000 after purchasing an additional 168 shares in the last quarter. Bessemer Group Inc. increased its position in Equity Residential by 124.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 872 shares in the last quarter. Korea Investment CORP increased its position in Equity Residential by 370.1% during the 2nd quarter. Korea Investment CORP now owns 231,294 shares of the real estate investment trust’s stock valued at $15,226,000 after buying an additional 182,092 shares in the last quarter. Anchor Capital Advisors LLC increased its position in Equity Residential by 16.6% during the 2nd quarter. Anchor Capital Advisors LLC now owns 4,225 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 600 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Equity Residential by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 178,017 shares of the real estate investment trust’s stock valued at $11,719,000 after buying an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.
In related news, insider Alexander Brackenridge sold 6,497 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $69.41, for a total value of $450,956.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Samuel Zell sold 91,651 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $67.17, for a total value of $6,156,197.67. The disclosure for this sale can be found here. Insiders have sold 412,380 shares of company stock valued at $28,348,622 in the last three months. Insiders own 3.79% of the company’s stock.
A number of analysts have recently commented on EQR shares. BMO Capital Markets restated a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research note on Monday, November 27th. BidaskClub cut Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Deutsche Bank upped their price target on Equity Residential from $67.00 to $69.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Jefferies Group reaffirmed a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a report on Sunday, September 10th. Finally, Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $69.47.
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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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