Morgan Stanley lowered its holdings in shares of Equity Residential (NYSE:EQR) by 42.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,185,892 shares of the real estate investment trust’s stock after selling 3,854,015 shares during the period. Morgan Stanley’s holdings in Equity Residential were worth $330,289,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EQR. Landaas & Co. WI ADV bought a new position in shares of Equity Residential in the second quarter worth approximately $101,000. Optimum Investment Advisors purchased a new stake in shares of Equity Residential in the first quarter worth $173,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Equity Residential in the second quarter worth $187,000. Girard Partners LTD. purchased a new stake in shares of Equity Residential in the second quarter worth $203,000. Finally, Marco Investment Management LLC purchased a new stake in shares of Equity Residential in the second quarter worth $205,000. 87.39% of the stock is currently owned by institutional investors and hedge funds.

EQR stock opened at $68.14 on Friday. The company has a market capitalization of $24.95 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.51 and a beta of 0.37. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.84. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The business had revenue of $639.62 million during the quarter, compared to analysts’ expectations of $637.34 million. During the same period in the previous year, the business posted $0.77 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. equities research analysts forecast that Equity Residential will post 3.24 EPS for the current fiscal year.

A number of brokerages recently weighed in on EQR. Mizuho restated a “buy” rating and set a $76.00 target price on shares of Equity Residential in a research report on Monday, August 6th. Bank of America increased their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, June 8th. ValuEngine lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Robert W. Baird reiterated a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research report on Thursday, August 16th. Finally, Deutsche Bank increased their price objective on shares of Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $67.57.

In other news, CEO David J. Neithercut sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $68.00, for a total transaction of $2,040,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gerald A. Spector sold 13,024 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total transaction of $879,120.00. Following the sale, the insider now directly owns 294,287 shares of the company’s stock, valued at approximately $19,864,372.50. The disclosure for this sale can be found here. In the last three months, insiders sold 48,769 shares of company stock valued at $3,308,451. 3.75% of the stock is owned by insiders.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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

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