Global Endowment Management LP acquired a new position in shares of Equity Residential (NYSE:EQR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,260 shares of the real estate investment trust’s stock, valued at approximately $3,046,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EQR. Advisors Asset Management Inc. increased its holdings in Equity Residential by 26.3% during the 1st quarter. Advisors Asset Management Inc. now owns 7,506 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 1,561 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Equity Residential by 11.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,897,297 shares of the real estate investment trust’s stock worth $118,050,000 after purchasing an additional 201,438 shares in the last quarter. Keybank National Association OH increased its holdings in Equity Residential by 7.6% during the 1st quarter. Keybank National Association OH now owns 7,513 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 533 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Equity Residential by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 27,488 shares of the real estate investment trust’s stock worth $1,709,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Equity Residential by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 8,208 shares of the real estate investment trust’s stock worth $511,000 after purchasing an additional 264 shares in the last quarter. 91.04% of the stock is owned by hedge funds and other institutional investors.

In other Equity Residential news, EVP Bruce C. Strohm sold 25,000 shares of Equity Residential stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $68.00, for a total value of $1,700,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. Insiders have sold 173,622 shares of company stock valued at $11,816,599 in the last three months. 3.79% of the stock is owned by insiders.

A number of analysts have commented on EQR shares. Stifel Nicolaus started coverage on Equity Residential in a report on Friday, September 1st. They set a “hold” rating and a $71.00 price objective for the company. Barclays PLC boosted their price objective on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. BMO Capital Markets reissued a “hold” rating and set a $68.00 price objective on shares of Equity Residential in a report on Wednesday, September 6th. BidaskClub lowered Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $68.21.

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Equity Residential (NYSE:EQR) last announced its quarterly earnings results 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 company 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 firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, September 25th will be given a dividend of $0.5038 per share. This represents a $2.02 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 90.58%.

Equity Residential 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.

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

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