Teachers Insurance & Annuity Association of America Lowers Holdings in Equity Residential (NYSE:EQR)

Teachers Insurance & Annuity Association of America lowered its stake in shares of Equity Residential (NYSE:EQR) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,222 shares of the real estate investment trust’s stock after selling 68,928 shares during the quarter. Equity Residential comprises about 2.4% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 11th largest position. Teachers Insurance & Annuity Association of America owned 0.07% of Equity Residential worth $20,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of EQR. Parametric Portfolio Associates LLC lifted its position in Equity Residential by 5.0% during the second quarter. Parametric Portfolio Associates LLC now owns 807,473 shares of the real estate investment trust’s stock valued at $61,303,000 after buying an additional 38,576 shares in the last quarter. MML Investors Services LLC purchased a new position in shares of Equity Residential in the 2nd quarter valued at $262,000. LLBH Private Wealth Management LLC acquired a new position in shares of Equity Residential during the 2nd quarter valued at $51,000. Ossiam lifted its holdings in shares of Equity Residential by 81.3% during the 2nd quarter. Ossiam now owns 34,489 shares of the real estate investment trust’s stock valued at $2,618,000 after acquiring an additional 15,464 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of Equity Residential by 31.4% during the 2nd quarter. Cibc World Markets Corp now owns 64,380 shares of the real estate investment trust’s stock valued at $4,888,000 after acquiring an additional 15,393 shares in the last quarter. 88.47% of the stock is owned by institutional investors.

Several equities analysts recently commented on the company. Morgan Stanley boosted their price target on Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. SunTrust Banks increased their price objective on shares of Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Argus lifted their price objective on shares of Equity Residential to $84.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Equity Residential has an average rating of “Hold” and an average price target of $77.97.

In related news, insider Alexander Brackenridge sold 11,612 shares of Equity Residential stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $79.89, for a total transaction of $927,682.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Fenster sold 2,118 shares of Equity Residential stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $84.12, for a total value of $178,166.16. The disclosure for this sale can be found here. Insiders have sold 209,862 shares of company stock worth $17,023,030 in the last quarter. Company insiders own 2.40% of the company’s stock.

EQR traded up $0.07 on Wednesday, hitting $84.53. 66,693 shares of the company’s stock were exchanged, compared to its average volume of 1,315,084. The firm has a market cap of $31.24 billion, a PE ratio of 26.03, a P/E/G ratio of 4.12 and a beta of 0.49. Equity Residential has a twelve month low of $62.40 and a twelve month high of $87.09. The stock has a fifty day moving average of $81.96 and a two-hundred day moving average of $77.61. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The company had revenue of $669.37 million during the quarter, compared to the consensus estimate of $667.59 million. During the same quarter in the previous year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Equity Residential will post 3.45 EPS for the current year.

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 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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