Toronto Dominion Bank reduced its stake in shares of Equity Residential (NYSE:EQR) by 15.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,027 shares of the real estate investment trust’s stock after selling 54,847 shares during the period. Toronto Dominion Bank owned 0.08% of Equity Residential worth $22,316,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc acquired a new position in shares of Equity Residential during the 2nd quarter worth approximately $34,000. Advisory Services Network LLC raised its position in shares of Equity Residential by 14.9% during the 2nd quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 457 shares during the last quarter. Tiemann Investment Advisors LLC acquired a new position in shares of Equity Residential during the 1st quarter worth approximately $204,000. Cibc World Markets Corp raised its position 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 worth $4,888,000 after purchasing an additional 15,393 shares during the last quarter. Finally, Green Street Investors LLC raised its position in shares of Equity Residential by 46.3% during the 1st quarter. Green Street Investors LLC now owns 258,300 shares of the real estate investment trust’s stock worth $19,455,000 after purchasing an additional 81,700 shares during the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.

In other news, EVP Christa L. Sorenson sold 400 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $78.33, for a total transaction of $31,332.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan W. George sold 33,302 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $80.64, for a total transaction of $2,685,473.28. Following the sale, the executive vice president now directly owns 41,280 shares of the company’s stock, valued at $3,328,819.20. The disclosure for this sale can be found here. Insiders have sold a total of 194,327 shares of company stock valued at $15,811,300 over the last three months. Corporate insiders own 3.75% of the company’s stock.

Several research analysts have weighed in on the company. Argus boosted their price target on Equity Residential to $84.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, August 12th. SunTrust Banks boosted their price target on Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Morgan Stanley boosted their price target on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Equity Residential presently has a consensus rating of “Hold” and a consensus target price of $77.97.

Shares of NYSE EQR traded down $0.86 during trading on Friday, hitting $84.50. 71,675 shares of the company traded hands, compared to its average volume of 1,327,384. Equity Residential has a 1 year low of $62.40 and a 1 year high of $87.09. The company has a 50-day moving average price of $82.10 and a 200-day moving average price of $77.66. The firm has a market capitalization of $31.32 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.09 and a beta of 0.49. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.88.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $667.59 million. During the same period in the prior year, the firm earned $0.81 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Equity Residential will post 3.45 EPS for the current fiscal year.

About Equity Residential

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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