Duff & Phelps Investment Management Co. lowered its position in Equity Residential (NYSE:EQR) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 925,961 shares of the real estate investment trust’s stock after selling 7,982 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.25% of Equity Residential worth $59,567,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EQR. Vanguard Group Inc. increased its stake in Equity Residential by 1.9% in the second quarter. Vanguard Group Inc. now owns 50,973,214 shares of the real estate investment trust’s stock worth $3,511,034,000 after buying an additional 957,747 shares during the period. Lasalle Investment Management Securities LLC increased its stake in Equity Residential by 13.1% in the second quarter. Lasalle Investment Management Securities LLC now owns 13,337,985 shares of the real estate investment trust’s stock worth $918,720,000 after buying an additional 1,549,887 shares during the period. BlackRock Fund Advisors increased its stake in Equity Residential by 4.4% in the second quarter. BlackRock Fund Advisors now owns 11,068,730 shares of the real estate investment trust’s stock worth $762,414,000 after buying an additional 465,619 shares during the period. Bank of New York Mellon Corp increased its stake in Equity Residential by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 6,068,931 shares of the real estate investment trust’s stock worth $418,029,000 after buying an additional 752,496 shares during the period. Finally, Eaton Vance Management increased its stake in Equity Residential by 89.9% in the second quarter. Eaton Vance Management now owns 5,472,278 shares of the real estate investment trust’s stock worth $376,931,000 after buying an additional 2,590,731 shares during the period. 94.53% of the stock is owned by hedge funds and other institutional investors.

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

Equity Residential (NYSE:EQR) traded down 1.17% during midday trading on Wednesday, reaching $59.78. The company’s stock had a trading volume of 118,593 shares. The firm has a 50 day moving average price of $60.59 and a 200 day moving average price of $64.96. The firm has a market capitalization of $21.86 billion, a PE ratio of 5.21 and a beta of 0.37. Equity Residential has a 1-year low of $58.28 and a 1-year high of $82.39.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. The business earned $606.07 million during the quarter, compared to analyst estimates of $602.10 million. Equity Residential had a return on equity of 39.22% and a net margin of 167.17%. Equity Residential’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. On average, analysts predict that Equity Residential will post $3.08 EPS for the current year.

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Several analysts have issued reports on EQR shares. Raymond James Financial Inc. downgraded shares of Equity Residential from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Jefferies Group reaffirmed a “hold” rating on shares of Equity Residential in a research report on Wednesday, August 10th. Deutsche Bank AG lowered their price objective on shares of Equity Residential from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 10th. Finally, Morgan Stanley downgraded shares of Equity Residential from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $76.00 to $60.00 in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $68.83.

Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.

5 Day Chart for NYSE:EQR

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