Commonwealth Equity Services LLC Decreases Stake in Equity Residential (EQR)

Commonwealth Equity Services LLC cut its holdings in Equity Residential (NYSE:EQR) by 14.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,097 shares of the real estate investment trust’s stock after selling 2,112 shares during the period. Commonwealth Equity Services LLC’s holdings in Equity Residential were worth $801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in Equity Residential by 6.3% in the 2nd quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock valued at $2,429,425,000 after purchasing an additional 2,247,512 shares during the last quarter. FMR LLC lifted its position in Equity Residential by 5.1% in the 2nd quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock valued at $678,982,000 after purchasing an additional 520,610 shares during the last quarter. Boston Partners lifted its position in Equity Residential by 80.2% in the 2nd quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock valued at $409,622,000 after purchasing an additional 2,862,717 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Equity Residential by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock valued at $353,044,000 after purchasing an additional 71,485 shares during the last quarter. Finally, Cbre Clarion Securities LLC lifted its position in Equity Residential by 12.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 4,492,256 shares of the real estate investment trust’s stock valued at $286,112,000 after purchasing an additional 485,777 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on EQR. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Friday, October 26th. BMO Capital Markets lifted their price objective on shares of Equity Residential from $68.00 to $69.00 and gave the company a “market perform” rating in a research report on Wednesday, October 24th. Scotiabank began coverage on shares of Equity Residential in a research report on Tuesday, October 16th. They issued an “outperform” rating on the stock. Mizuho reiterated a “buy” rating and issued a $76.00 price objective on shares of Equity Residential in a research report on Monday, August 6th. Finally, SunTrust Banks downgraded 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 report on Tuesday, August 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and an average target price of $69.00.

EQR stock opened at $71.88 on Tuesday. Equity Residential has a 52 week low of $54.97 and a 52 week high of $71.89. The stock has a market cap of $26.25 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 3.62 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 released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The company had revenue of $652.87 million for the quarter, compared to the consensus estimate of $645.77 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts expect that Equity Residential will post 3.26 EPS for the current year.

In other Equity Residential news, insider Michael L. Manelis sold 670 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.91, for a total transaction of $45,499.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David J. Neithercut sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $70.09, for a total transaction of $1,752,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 233,532 shares of company stock worth $15,853,979 over the last 90 days. 3.75% of the stock is owned by insiders.

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Equity Residential Company 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: Why investors pay attention to retained earnings

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR).

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

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