Exxonmobil Investment Management Inc. TX cut its position in shares of Equity Residential (NYSE:EQR) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,493 shares of the real estate investment trust’s stock after selling 11,027 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Equity Residential were worth $4,641,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EQR. BlackRock Inc. raised its stake in Equity Residential by 2,486.4% in the first quarter. BlackRock Inc. now owns 33,800,889 shares of the real estate investment trust’s stock worth $2,103,090,000 after buying an additional 32,494,035 shares in the last quarter. Macquarie Group Ltd. raised its stake in Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after buying an additional 11,260,624 shares in the last quarter. American Century Companies Inc. raised its stake in Equity Residential by 266.0% in the first quarter. American Century Companies Inc. now owns 1,981,160 shares of the real estate investment trust’s stock worth $123,268,000 after buying an additional 1,439,915 shares in the last quarter. Vanguard Group Inc. raised its stake in Equity Residential by 2.2% in the first quarter. Vanguard Group Inc. now owns 52,348,375 shares of the real estate investment trust’s stock worth $3,257,116,000 after buying an additional 1,140,042 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Equity Residential by 64.5% in the first quarter. Bank of America Corp DE now owns 2,443,018 shares of the real estate investment trust’s stock worth $152,006,000 after buying an additional 957,684 shares in the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Shares of Equity Residential (EQR) opened at 67.32 on Monday. The firm’s 50-day moving average price is $66.69 and its 200 day moving average price is $64.31. The firm has a market capitalization of $24.73 billion, a P/E ratio of 30.09 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. Equity Residential’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS. Analysts anticipate that Equity Residential will post $1.40 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were given a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a yield of 2.99%. Equity Residential’s dividend payout ratio is presently 90.58%.

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A number of analysts have weighed in on the company. UBS AG lowered Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Thursday, July 6th. BidaskClub raised Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Finally, Barclays PLC upped their price target on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $68.08.

In other Equity Residential news, insider David S. Santee sold 10,967 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $67.93, for a total transaction of $744,988.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $65.63, for a total transaction of $65,630.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,838 shares of company stock worth $3,724,023. 3.79% of the stock is owned by corporate insiders.

About Equity Residential

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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