IBM Retirement Fund boosted its stake in shares of Equity Residential (NYSE:EQR) by 120.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,756 shares of the real estate investment trust’s stock after buying an additional 4,777 shares during the period. IBM Retirement Fund’s holdings in Equity Residential were worth $644,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Colony Group LLC increased 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 position in 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 worth $13,147,000 after buying an additional 84,600 shares in the last quarter. Financial Architects Inc raised its position 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 bought a new position in shares of Equity Residential during the first quarter valued at approximately $15,692,000. Finally, California Public Employees Retirement System raised its position 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. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential (NYSE:EQR) traded down 0.15% during midday trading on Friday, reaching $66.98. 1,260,508 shares of the company’s stock were exchanged. The company has a market cap of $24.60 billion, a P/E ratio of 29.97 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company has a 50 day moving average price of $66.58 and a 200 day moving average price of $64.51.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.64% and a net margin of 33.44%. Equity Residential’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, equities analysts anticipate that Equity Residential will post $1.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were given a $0.5038 dividend. This represents a $2.02 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s dividend payout ratio is currently 90.58%.

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Several research analysts have recently weighed in on EQR shares. Evercore ISI upped their target price on shares of Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a research note on Wednesday, April 19th. Barclays PLC increased their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. BMO Capital Markets reissued a “hold” rating and set a $66.00 target price on shares of Equity Residential in a report on Thursday, May 25th. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, BidaskClub cut shares of Equity Residential from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $67.92.

In related news, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold a total of 59,124 shares of company stock valued at $3,945,054 in the last three months. Corporate insiders own 3.79% of the company’s stock.

Equity Residential Company Profile

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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