Teachers Insurance & Annuity Association of America lowered its position in Equity Residential (NYSE:EQR) by 20.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 265,222 shares of the real estate investment trust’s stock after selling 68,928 shares during the quarter. Equity Residential accounts for 2.4% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 11th largest position. Teachers Insurance & Annuity Association of America’s holdings in Equity Residential were worth $20,135,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EQR. FMR LLC lifted its stake in shares of Equity Residential by 15.8% in the first quarter. FMR LLC now owns 10,042,326 shares of the real estate investment trust’s stock worth $756,387,000 after acquiring an additional 1,373,126 shares during the period. Centersquare Investment Management LLC lifted its position in shares of Equity Residential by 39.4% in the 1st quarter. Centersquare Investment Management LLC now owns 3,885,671 shares of the real estate investment trust’s stock worth $292,669,000 after purchasing an additional 1,097,577 shares during the period. BlackRock Inc. lifted its position in shares of Equity Residential by 2.3% in the 1st quarter. BlackRock Inc. now owns 42,189,362 shares of the real estate investment trust’s stock worth $3,177,704,000 after purchasing an additional 942,825 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Equity Residential by 65.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,524,017 shares of the real estate investment trust’s stock valued at $115,704,000 after purchasing an additional 605,640 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Equity Residential by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 6,088,423 shares of the real estate investment trust’s stock valued at $401,342,000 after purchasing an additional 501,797 shares during the last quarter. 88.47% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on EQR shares. SunTrust Banks lifted their target price on shares of Equity Residential from $74.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Argus boosted their target price on shares of Equity Residential to $84.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, August 12th. Finally, Morgan Stanley increased their price target on Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $77.97.
Shares of EQR stock traded up $0.07 during trading hours on Wednesday, hitting $84.53. 66,693 shares of the company were exchanged, compared to its average volume of 1,315,084. The company has a 50 day simple moving average of $81.96 and a two-hundred day simple moving average of $77.61. The firm has a market cap of $31.24 billion, a P/E ratio of 26.03, a P/E/G ratio of 4.12 and a beta of 0.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 1.45. Equity Residential has a fifty-two week low of $62.40 and a fifty-two week high of $87.09.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The company had revenue of $669.37 million for the quarter, compared to analyst estimates of $667.59 million. Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, sell-side analysts expect that Equity Residential will post 3.45 EPS for the current fiscal year.
In other news, EVP Alan W. George sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $84.60, for a total transaction of $846,000.00. Following the transaction, the executive vice president now directly owns 31,280 shares of the company’s stock, valued at $2,646,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Fenster sold 2,477 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $79.36, for a total value of $196,574.72. The disclosure for this sale can be found here. Insiders sold 209,862 shares of company stock valued at $17,023,030 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.
Equity Residential Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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