Millennium Management LLC acquired a new stake in Equity Residential (NYSE:EQR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,626,792 shares of the real estate investment trust’s stock, valued at approximately $103,610,000. Millennium Management LLC owned about 0.44% of Equity Residential at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EQR. Boston Partners lifted its stake in Equity Residential by 80.2% in the 2nd quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock valued at $409,622,000 after purchasing an additional 2,862,717 shares during the last quarter. BlackRock Inc. lifted its stake in Equity Residential by 6.3% in the 2nd quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock valued at $2,429,425,000 after purchasing an additional 2,247,512 shares during the last quarter. Franklin Resources Inc. lifted its stake in Equity Residential by 339.1% in the 1st quarter. Franklin Resources Inc. now owns 2,212,727 shares of the real estate investment trust’s stock valued at $136,347,000 after purchasing an additional 1,708,761 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in Equity Residential in the 1st quarter valued at approximately $75,534,000. Finally, Resolution Capital Ltd lifted its stake in Equity Residential by 52.1% in the 2nd quarter. Resolution Capital Ltd now owns 3,579,025 shares of the real estate investment trust’s stock valued at $227,948,000 after purchasing an additional 1,225,200 shares during the last quarter. 87.39% of the stock is owned by institutional investors and hedge funds.

In related news, Vice Chairman Gerald A. Spector sold 13,024 shares of Equity Residential stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total transaction of $879,120.00. Following the completion of the transaction, the insider now owns 294,287 shares of the company’s stock, valued at $19,864,372.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Manelis sold 670 shares of Equity Residential stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.91, for a total transaction of $45,499.70. The disclosure for this sale can be found here. Insiders have sold 48,769 shares of company stock valued at $3,308,451 in the last three months. 3.75% of the stock is owned by insiders.

Several brokerages recently commented on EQR. ValuEngine downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Stifel Nicolaus increased their price objective on shares of Equity Residential from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. 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 note on Wednesday, September 5th. Mizuho reaffirmed a “buy” rating and set a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. Finally, Bank of America raised their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, June 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.57.

EQR stock opened at $67.83 on Friday. The firm has a market cap of $24.95 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 3.51 and a beta of 0.37. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46. 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 (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $639.62 million during the quarter, compared to the consensus estimate of $637.34 million. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. research analysts predict that Equity Residential will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Monday, September 24th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, September 21st. Equity Residential’s dividend payout ratio is presently 69.01%.

Equity Residential Company Profile

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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