Forward Management LLC Decreases Position in Equity Residential (EQR)

Forward Management LLC reduced its stake in shares of Equity Residential (NYSE:EQR) by 16.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,600 shares of the real estate investment trust’s stock after selling 8,300 shares during the period. Forward Management LLC’s holdings in Equity Residential were worth $2,870,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC increased its position in Equity Residential by 16.9% in the first quarter. Glen Harbor Capital Management LLC now owns 14,504 shares of the real estate investment trust’s stock valued at $902,000 after buying an additional 2,100 shares during the last quarter. Korea Investment CORP increased its position in Equity Residential by 11,315.8% in the first quarter. Korea Investment CORP now owns 49,202 shares of the real estate investment trust’s stock valued at $3,061,000 after buying an additional 48,771 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Equity Residential by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,752 shares of the real estate investment trust’s stock valued at $567,000 after buying an additional 383 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Equity Residential by 66.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 129,586 shares of the real estate investment trust’s stock valued at $8,063,000 after buying an additional 51,506 shares during the last quarter. Finally, Motco increased its position in Equity Residential by 5.9% in the first quarter. Motco now owns 5,993 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 336 shares during the last quarter. 92.39% of the stock is currently owned by institutional investors.

Equity Residential (NYSE:EQR) opened at 67.35 on Thursday. The company’s 50-day moving average price is $66.61 and its 200 day moving average price is $64.47. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 30.11 and a beta of 0.34.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $612.48 million during 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%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. Analysts forecast that Equity Residential will post $1.41 EPS for the current fiscal year.

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

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A number of brokerages recently issued reports on EQR. BidaskClub raised Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC increased 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. TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Bank of America Corporation raised Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, June 16th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.08.

In related news, insider David S. Santee sold 10,967 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $67.93, for a total value of $744,988.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bruce C. Strohm sold 1,686 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $67.23, for a total transaction of $113,349.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,838 shares of company stock valued at $3,724,023. 3.79% of the stock is owned by 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.

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

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