Equity Residential (EQR) Position Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Equity Residential (NYSE:EQR) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,561,209 shares of the real estate investment trust’s stock after purchasing an additional 17,998 shares during the period. Dimensional Fund Advisors LP owned about 1.51% of Equity Residential worth $368,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in EQR. BlackRock Inc. increased its stake in Equity Residential by 2.2% during the 3rd quarter. BlackRock Inc. now owns 38,989,971 shares of the real estate investment trust’s stock worth $2,583,474,000 after buying an additional 845,417 shares in the last quarter. FMR LLC increased its stake in Equity Residential by 5.1% during the 2nd quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock worth $678,982,000 after buying an additional 520,610 shares in the last quarter. Boston Partners increased its stake in Equity Residential by 80.2% during the 2nd quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after buying an additional 2,862,717 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Equity Residential by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,758,455 shares of the real estate investment trust’s stock worth $381,556,000 after buying an additional 69,262 shares in the last quarter. Finally, Cbre Clarion Securities LLC increased its stake in Equity Residential by 12.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 4,492,256 shares of the real estate investment trust’s stock worth $286,112,000 after buying an additional 485,777 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

In related news, CEO David J. Neithercut sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $66.00, for a total value of $1,320,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael L. Manelis sold 670 shares of the company’s 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. Over the last 90 days, insiders have sold 200,532 shares of company stock worth $13,543,569. Insiders own 3.75% of the company’s stock.

Several equities research analysts have commented on EQR shares. Argus boosted their price objective on Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Friday, October 26th. Scotiabank set a $71.00 price objective on Equity Residential and gave the stock a “buy” rating in a research note on Monday, November 12th. Mizuho reiterated a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research note on Monday, August 6th. Finally, ValuEngine upgraded Equity Residential from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.06.

Shares of Equity Residential stock opened at $69.11 on Monday. The company has a market cap of $25.46 billion, a PE ratio of 21.33, a P/E/G ratio of 3.53 and a beta of 0.40. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.27. 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 issued its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.23). The company had revenue of $652.87 million for the quarter, compared to analyst estimates of $645.77 million. Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, analysts expect that Equity Residential will post 3.26 earnings per share for the current fiscal year.

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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.

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

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