Canada Pension Plan Investment Board reduced its position in Equity Residential (NYSE:EQR) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089,359 shares of the real estate investment trust’s stock after selling 194,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.30% of Equity Residential worth $71,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQR. Xact Kapitalforvaltning AB grew its position in Equity Residential by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock valued at $2,967,000 after acquiring an additional 1,192 shares in the last quarter. National Pension Service grew its position in Equity Residential by 14.4% in the 2nd quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock valued at $24,039,000 after acquiring an additional 45,621 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in Equity Residential by 525.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 61,036 shares of the real estate investment trust’s stock valued at $4,018,000 after acquiring an additional 51,284 shares in the last quarter. LS Investment Advisors LLC grew its position in Equity Residential by 2.6% in the 2nd quarter. LS Investment Advisors LLC now owns 11,176 shares of the real estate investment trust’s stock valued at $736,000 after acquiring an additional 279 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Equity Residential by 7.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 94,847 shares of the real estate investment trust’s stock valued at $6,230,000 after acquiring an additional 6,360 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Several research firms have weighed in on EQR. UBS AG downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research report on Thursday, July 6th. TheStreet downgraded Equity Residential from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Stifel Nicolaus dropped their target price on Equity Residential from $71.00 to $68.00 and set a “hold” rating for the company in a research report on Friday, October 27th. BidaskClub downgraded Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. set a $71.00 target price on Equity Residential and gave the company a “buy” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Equity Residential has a consensus rating of “Hold” and a consensus target price of $68.85.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, September 25th were issued a dividend of $0.5038 per share. The ex-dividend date was Friday, September 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.01%. Equity Residential’s payout ratio is currently 99.02%.

In related news, Director Mark S. Shapiro sold 2,853 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total transaction of $192,006.90. Following the sale, the director now directly owns 2,573 shares in the company, valued at approximately $173,162.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Manelis sold 433 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total value of $29,023.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,306 shares of company stock worth $17,227,808. Company insiders own 3.79% of the company’s stock.

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Equity Residential 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.

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

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