Oppenheimer Asset Management Inc. Decreases Position in Equity Residential (EQR)

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Oppenheimer Asset Management Inc. lowered its position in Equity Residential (NYSE:EQR) by 62.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,565 shares of the real estate investment trust’s stock after selling 16,085 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Equity Residential were worth $609,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Equity Residential by 6.3% in the second quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after acquiring an additional 2,247,512 shares during the period. Northern Trust Corp raised its position in shares of Equity Residential by 3.2% in the first quarter. Northern Trust Corp now owns 6,766,189 shares of the real estate investment trust’s stock worth $416,933,000 after acquiring an additional 209,065 shares during the period. Boston Partners raised its position in shares of Equity Residential by 80.2% in the second quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after acquiring an additional 2,862,717 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Equity Residential by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after acquiring an additional 71,485 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Equity Residential by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,815,289 shares of the real estate investment trust’s stock worth $242,996,000 after acquiring an additional 150,836 shares during the period. Institutional investors and hedge funds own 87.42% of the company’s stock.

In other news, Vice Chairman Gerald A. Spector sold 13,024 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total transaction of $879,120.00. Following the completion of the sale, the insider now owns 294,287 shares of the company’s stock, valued at $19,864,372.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Neithercut sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $64.50, for a total transaction of $1,612,500.00. The disclosure for this sale can be found here. 3.75% of the stock is owned by insiders.

A number of brokerages have weighed in on EQR. ValuEngine upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Stifel Nicolaus upped their price objective on shares of Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Morgan Stanley decreased their price objective on shares of Equity Residential from $66.50 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, June 14th. 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, Deutsche Bank upped 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. One investment 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 has a consensus rating of “Hold” and a consensus target price of $67.57.

EQR stock opened at $67.24 on Friday. The stock has a market cap of $25.04 billion, a PE ratio of 21.48, a P/E/G ratio of 3.52 and a beta of 0.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.16 and a quick ratio of 0.16. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $639.62 million during 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 quarter in the previous year, the company earned $0.77 earnings per share. equities analysts anticipate that Equity Residential will post 3.24 EPS for the current fiscal year.

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 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

Read More: Book Value Of Equity Per Share – BVPS Explained

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

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