Westpac Banking Corp decreased its position in shares of Equity Residential (NYSE:EQR) by 37.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,213 shares of the real estate investment trust’s stock after selling 149,052 shares during the quarter. Westpac Banking Corp owned 0.07% of Equity Residential worth $19,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in 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 worth $401,342,000 after purchasing an additional 501,797 shares in the last quarter. First Manhattan Co. increased its holdings in shares of Equity Residential by 7.1% in the 1st quarter. First Manhattan Co. now owns 2,168 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 144 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Equity Residential by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the real estate investment trust’s stock worth $1,469,000 after buying an additional 200 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Equity Residential by 1.4% in the 1st quarter. Retirement Systems of Alabama now owns 172,256 shares of the real estate investment trust’s stock worth $12,974,000 after buying an additional 2,420 shares during the last quarter. Finally, Pennsylvania Trust Co bought a new position in shares of Equity Residential in the 1st quarter worth $2,954,000. 87.98% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on EQR shares. 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 report on Monday. Morgan Stanley increased their price target on shares of Equity Residential from $70.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. Finally, Argus increased their price target on shares of Equity Residential to $84.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.40.

In other Equity Residential news, CEO Mark J. Parrell sold 59,385 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $76.60, for a total value of $4,548,891.00. Following the sale, the chief executive officer now owns 79,782 shares of the company’s stock, valued at approximately $6,111,301.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christa L. Sorenson sold 700 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $80.73, for a total transaction of $56,511.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,906 shares of company stock worth $17,697,674. 2.40% of the stock is owned by insiders.

Shares of EQR stock traded down $0.22 on Tuesday, hitting $81.00. 94,780 shares of the company’s stock traded hands, compared to its average volume of 1,400,521. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. Equity Residential has a one year low of $62.40 and a one year high of $81.88. The firm’s fifty day moving average is $78.52. The stock has a market cap of $30.14 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 4.00 and a beta of 0.51.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The business had revenue of $669.37 million for the quarter, compared to the consensus estimate of $667.59 million. During the same period in the prior year, the business posted $0.81 EPS. Equity Residential’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Equity Residential will post 3.44 EPS for the current year.

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

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