Arizona State Retirement System increased its holdings in Equity Residential (NYSE:EQR) by 16.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,289 shares of the real estate investment trust’s stock after purchasing an additional 21,349 shares during the period. Arizona State Retirement System’s holdings in Equity Residential were worth $9,763,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. IFP Advisors Inc raised its position in Equity Residential by 1,119.4% in the second quarter. IFP Advisors Inc now owns 5,646 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 5,183 shares in the last quarter. Landaas & Co. WI ADV acquired a new position in Equity Residential in the second quarter worth about $101,000. Girard Partners LTD. acquired a new position in Equity Residential in the second quarter worth about $203,000. Toronto Dominion Bank raised its position in Equity Residential by 19.3% in the second quarter. Toronto Dominion Bank now owns 236,700 shares of the real estate investment trust’s stock worth $15,073,000 after purchasing an additional 38,284 shares in the last quarter. Finally, HL Financial Services LLC grew its stake in Equity Residential by 156.6% during the second quarter. HL Financial Services LLC now owns 3,265 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 9,030 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO David J. Neithercut sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total transaction of $1,612,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David S. Santee sold 1,928 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $61.55, for a total transaction of $118,668.40. The disclosure for this sale can be found here. 3.75% of the stock is owned by corporate insiders.

Shares of Equity Residential stock opened at $67.85 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.84. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 3.42 and a beta of 0.43. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.46.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The firm had revenue of $639.62 million for the quarter, compared to analysts’ expectations of $637.34 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. equities analysts anticipate that Equity Residential will post 3.24 EPS for the current year.

Several analysts have weighed in on EQR shares. Bank of America upped their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. ValuEngine raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Robert W. Baird reaffirmed a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research note on Thursday. SunTrust Banks cut shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research note on Tuesday, August 14th. Finally, Mizuho reaffirmed a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $67.62.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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