Pictet Asset Management Ltd. decreased its position in shares of Equity Residential (NYSE:EQR) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 221,562 shares of the real estate investment trust’s stock after selling 23,223 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Equity Residential were worth $14,681,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Equity Residential by 0.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,934 shares of the real estate investment trust’s stock worth $15,235,000 after purchasing an additional 824 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Equity Residential by 0.8% during the third quarter. Arizona State Retirement System now owns 154,488 shares of the real estate investment trust’s stock worth $10,236,000 after buying an additional 1,199 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Equity Residential by 2.4% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 50,181 shares of the real estate investment trust’s stock worth $3,325,000 after buying an additional 1,200 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Equity Residential by 1.2% during the second quarter. TD Asset Management Inc. now owns 105,423 shares of the real estate investment trust’s stock worth $6,714,000 after buying an additional 1,233 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Equity Residential by 9.8% during the second quarter. Advisors Asset Management Inc. now owns 15,939 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 1,419 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

In other Equity Residential news, President Mark J. Parrell sold 37,294 shares of Equity Residential stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $67.60, for a total value of $2,521,074.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Manelis sold 670 shares of Equity Residential stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total value of $45,499.70. The disclosure for this sale can be found here. Insiders sold a total of 255,963 shares of company stock worth $17,502,614 in the last ninety days. 3.75% of the stock is owned by corporate insiders.

Shares of EQR opened at $70.76 on Thursday. Equity Residential has a twelve month low of $54.97 and a twelve month high of $71.93. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.13 and a current ratio of 0.13.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.23). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The business had revenue of $652.87 million during the quarter, compared to analysts’ expectations of $645.77 million. During the same period in the prior year, the firm posted $0.37 EPS. Equity Residential’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts expect that Equity Residential will post 3.26 EPS for the current year.

A number of equities analysts recently issued reports on the company. TheStreet raised Equity Residential from a “c+” rating to a “b-” rating in a report on Wednesday, November 28th. ValuEngine raised Equity Residential from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Zacks Investment Research lowered Equity Residential from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Scotiabank set a $71.00 price target on Equity Residential and gave the stock a “buy” rating in a report on Monday, November 12th. Finally, Deutsche Bank raised their price target on Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $69.00.

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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 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

Further Reading: Consumer Price Index (CPI)

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

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