State Street Discloses 7.6% Stake in Equity Residential
Ticker: EQR · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 906107
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amended-filing, reit, passive-investment
TL;DR
**State Street owns 7.6% of Equity Residential, a big institutional vote of confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended Schedule 13G on January 30, 2024, disclosing its ownership in Equity Residential, a real estate investment trust (REIT). As of December 31, 2023, State Street reported beneficial ownership of 29,476,211 shares, representing 7.6% of Equity Residential's REIT class of securities. This filing indicates a significant institutional holding, which can provide stability but also means large block sales could impact the stock price.
Why It Matters
This filing shows a major institutional investor, State Street Corporation, holds a substantial stake in Equity Residential, signaling confidence but also potential for market impact if their position changes significantly.
Risk Assessment
Risk Level: low — A large institutional holding by State Street Corporation generally indicates stability and confidence in Equity Residential, reducing immediate risk.
Analyst Insight
Investors should note the significant institutional ownership by State Street Corporation, which suggests a degree of stability. However, they should monitor future 13G/A filings for any substantial changes in State Street's position, as a large reduction could signal a shift in institutional sentiment.
Key Numbers
- 29,476,211 — Shares Beneficially Owned (Represents the total shares of Equity Residential held by State Street Corporation as of December 31, 2023.)
- 7.6% — Percentage of Class Owned (Indicates State Street Corporation's significant ownership stake in Equity Residential's REIT class of securities.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and beneficial owner
- Equity Residential (company) — the issuer of the securities
- 29,476,211 (dollar_amount) — number of shares beneficially owned by State Street Corporation
- 7.6% (dollar_amount) — percentage of class beneficially owned by State Street Corporation
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain a significant, but potentially slightly reduced, stake in Equity Residential over the next year. (State Street Corporation) — medium confidence, target: 2025-01-30
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person in this SC 13G/A filing is State Street Corporation, as stated on page 2 of 5, item 1.
What is the name of the issuer whose securities are being reported?
The name of the issuer is Equity Residential, as identified on page 1 of the filing under 'NAME OF ISSUER'.
What percentage of Equity Residential's class of securities does State Street Corporation beneficially own?
State Street Corporation beneficially owns 7.6% of Equity Residential's REIT class of securities, as indicated on page 2 of 5, item 9.
As of what date was the beneficial ownership percentage calculated?
The beneficial ownership percentage was calculated as of December 31, 2023, which is the 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT' on page 1.
How many shares does State Street Corporation beneficially own in Equity Residential?
State Street Corporation beneficially owns 29,476,211 shares of Equity Residential, as reported on page 2 of 5, item 7.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding EQUITY RESIDENTIAL (EQR).