New Mexico Educational Retirement Board Has $5.77 Million Stake in Equity Residential (EQR)

New Mexico Educational Retirement Board cut its stake in Equity Residential (NYSE:EQR) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,758 shares of the real estate investment trust’s stock after selling 3,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Equity Residential were worth $5,769,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Colony Group LLC raised its stake in shares of Equity Residential by 45.0% in the first quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock valued at $1,333,000 after buying an additional 6,646 shares during the period. Green Street Investors LLC raised its stake in shares of Equity Residential by 66.8% in the first quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock valued at $13,147,000 after buying an additional 84,600 shares during the period. Financial Architects Inc raised its stake in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares during the period. Land & Buildings Investment Management LLC acquired a new stake in shares of Equity Residential during the first quarter valued at $15,692,000. Finally, California Public Employees Retirement System raised its stake in shares of Equity Residential by 5.4% in the first quarter. California Public Employees Retirement System now owns 893,256 shares of the real estate investment trust’s stock valued at $55,578,000 after buying an additional 45,900 shares during the period. Institutional investors own 91.81% of the company’s stock.

Shares of Equity Residential (NYSE EQR) traded down 0.71% during trading on Friday, hitting $67.17. 2,942,273 shares of the company’s stock were exchanged. The stock has a market cap of $24.67 billion, a PE ratio of 30.05 and a beta of 0.34. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The stock’s 50-day moving average price is $66.74 and its 200-day moving average price is $64.74.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. During the same period last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Equity Residential will post $1.44 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on EQR. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a research report on Thursday, July 6th. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank AG lifted their price target on shares of Equity Residential from $67.00 to $69.00 and gave the company a “hold” rating in a report on Friday. Royal Bank Of Canada reissued a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. Finally, Barclays PLC lifted their price target on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $68.00.

In other news, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,124 shares of company stock worth $3,945,054. 3.79% of the stock is currently owned by corporate insiders.

About Equity Residential

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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