Mason Street Advisors LLC Cuts Stock Holdings in Equity Residential (NYSE:EQR)

Mason Street Advisors LLC trimmed its position in shares of Equity Residential (NYSE:EQR) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,664 shares of the real estate investment trust’s stock after selling 3,170 shares during the quarter. Mason Street Advisors LLC’s holdings in Equity Residential were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Equity Residential in the 2nd quarter worth $34,000. Advisory Services Network LLC boosted its stake in shares of Equity Residential by 14.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 457 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of Equity Residential by 31.4% in 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 purchasing an additional 15,393 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Equity Residential in the 2nd quarter valued at $90,000. Finally, Huntington National Bank boosted its stake in shares of Equity Residential by 4.6% in the 2nd quarter. Huntington National Bank now owns 3,700 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 163 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

In other Equity Residential news, EVP Scott Fenster sold 2,118 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $84.12, for a total value of $178,166.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Manelis sold 8,672 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.00, for a total value of $711,104.00. The disclosure for this sale can be found here. Insiders sold a total of 104,945 shares of company stock valued at $8,882,681 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Several equities research analysts have weighed in on EQR shares. Barclays reissued a “hold” rating and set a $87.00 price target on shares of Equity Residential in a research report on Sunday, October 13th. Morgan Stanley increased their price target on shares of Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, August 12th. Argus increased their price target on shares of Equity Residential from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut shares of Equity Residential from a “neutral” rating to an “underperform” rating and increased their price target for the company from $78.00 to $81.00 in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and an average price target of $83.27.

NYSE:EQR traded up $1.37 on Wednesday, reaching $84.78. 11,807 shares of the stock traded hands, compared to its average volume of 1,404,013. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.95 and a beta of 0.44. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.87. Equity Residential has a 12 month low of $63.17 and a 12 month high of $89.55. The company’s fifty day simple moving average is $86.97 and its 200 day simple moving average is $81.21.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). Equity Residential had a net margin of 29.88% and a return on equity of 7.73%. The firm had revenue of $685.15 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Equity Residential will post 3.47 EPS for the current fiscal 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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