South State Corp boosted its position in Equity Residential (NYSE:EQR) by 22.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,016 shares of the real estate investment trust’s stock after purchasing an additional 1,816 shares during the period. South State Corp’s holdings in Equity Residential were worth $660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. lifted its stake in Equity Residential by 5.3% in the second quarter. Raymond James Trust N.A. now owns 12,723 shares of the real estate investment trust’s stock valued at $838,000 after purchasing an additional 635 shares during the last quarter. Summit Global Investments lifted its stake in Equity Residential by 21.5% in the second quarter. Summit Global Investments now owns 7,777 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 1,377 shares during the last quarter. Franklin Resources Inc. lifted its stake in Equity Residential by 29.9% in the second quarter. Franklin Resources Inc. now owns 500,691 shares of the real estate investment trust’s stock valued at $32,961,000 after purchasing an additional 115,188 shares during the last quarter. Eaton Vance Management lifted its stake in Equity Residential by 2.9% in the second quarter. Eaton Vance Management now owns 3,120,019 shares of the real estate investment trust’s stock valued at $205,391,000 after purchasing an additional 87,785 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Equity Residential by 12.9% in the second quarter. Schroder Investment Management Group now owns 27,706 shares of the real estate investment trust’s stock valued at $1,837,000 after purchasing an additional 3,168 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

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Several research firms recently commented on EQR. UBS AG downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 6th. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Royal Bank Of Canada restated a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $67.00 target price on shares of Equity Residential in a research report on Monday, July 17th. Finally, BMO Capital Markets restated a “hold” rating and set a $66.00 target price on shares of Equity Residential in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $68.21.

Shares of Equity Residential (NYSE:EQR) traded down 0.41% on Wednesday, hitting $67.33. The stock had a trading volume of 155,591 shares. The stock has a market cap of $24.73 billion, a PE ratio of 30.13 and a beta of 0.36. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company has a 50 day moving average price of $67.50 and a 200-day moving average price of $65.46.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The firm had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. During the same period in the previous year, the firm posted $0.76 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Equity Residential will post $1.48 earnings per share for the current year.

In related news, EVP Bruce C. Strohm sold 10,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $68.50, for a total transaction of $685,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David J. Neithercut sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $68.10, for a total transaction of $5,107,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,622 shares of company stock worth $11,816,599. Insiders own 3.79% of the company’s stock.

Equity Residential Company Profile

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.

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

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