State of Alaska Department of Revenue lessened its stake in shares of Equity Residential (NYSE:EQR) by 9.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 177,552 shares of the real estate investment trust’s stock after selling 17,543 shares during the quarter. State of Alaska Department of Revenue’s holdings in Equity Residential were worth $11,762,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Equity Residential by 6.3% during the 2nd quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after buying an additional 2,247,512 shares during the last quarter. FMR LLC lifted its position in shares of 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 during the last quarter. Boston Partners lifted its position in shares of 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Equity Residential by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after buying an additional 71,485 shares during the last quarter. Finally, Cbre Clarion Securities LLC lifted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

Shares of Equity Residential stock opened at $64.69 on Thursday. The firm has a market capitalization of $24.40 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 3.43 and a beta of 0.37. Equity Residential has a 12 month low of $54.97 and a 12 month high of $70.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.16 and a current ratio of 0.16.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $639.62 million for the quarter, compared to analysts’ expectations of $637.34 million. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. As a group, equities research analysts expect that Equity Residential will post 3.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Monday, September 24th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. Equity Residential’s payout ratio is 69.01%.

Several analysts have recently weighed in on EQR shares. Deutsche Bank boosted their price objective on shares of Equity Residential from $66.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Robert W. Baird restated a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research report on Thursday, August 16th. ValuEngine upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. SunTrust Banks downgraded shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Tuesday, August 14th. Finally, Mizuho restated a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and an average target price of $67.57.

In other Equity Residential news, Vice Chairman Gerald A. Spector sold 13,024 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total value of $879,120.00. Following the transaction, the insider now directly owns 294,287 shares of the company’s stock, valued at approximately $19,864,372.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ian Kaufman sold 5,075 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $67.75, for a total transaction of $343,831.25. The disclosure for this sale can be found here. Insiders sold a total of 48,769 shares of company stock worth $3,308,451 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Equity Residential Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

Read More: Market Capitalization

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

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