Chevy Chase Trust Holdings Inc. Lowers Position in Equity Residential (EQR)

Chevy Chase Trust Holdings Inc. cut its position in shares of Equity Residential (NYSE:EQR) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,771 shares of the real estate investment trust’s stock after selling 358 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Equity Residential worth $20,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service raised its position in Equity Residential by 14.4% in the second quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock worth $24,039,000 after buying an additional 45,621 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Equity Residential by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock worth $2,967,000 after buying an additional 1,192 shares in the last quarter. Nuveen Asset Management LLC raised its position in Equity Residential by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 2,445,378 shares of the real estate investment trust’s stock worth $152,151,000 after buying an additional 559,828 shares in the last quarter. Piedmont Investment Advisors LLC raised its position in Equity Residential by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 75,596 shares of the real estate investment trust’s stock worth $4,704,000 after buying an additional 657 shares in the last quarter. Finally, HM Payson & Co. raised its position in Equity Residential by 5.4% in the first quarter. HM Payson & Co. now owns 5,893 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 300 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.

Equity Residential (NYSE:EQR) traded down 0.13% during mid-day trading on Tuesday, reaching $67.15. 2,096,581 shares of the company were exchanged. The company’s 50 day moving average price is $66.70 and its 200-day moving average price is $64.37. The stock has a market capitalization of $24.66 billion, a P/E ratio of 30.02 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The firm had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. Equity Residential’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities analysts expect that Equity Residential will post $1.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were given a $0.5038 dividend. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a yield of 3.00%. Equity Residential’s dividend payout ratio is presently 90.58%.

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A number of research firms have commented on EQR. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Barclays PLC lifted their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. Finally, Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Equity Residential currently has a consensus rating of “Hold” and a consensus 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $65.63, for a total transaction of $65,630.00. The disclosure for this sale can be found here. Insiders sold a total of 55,838 shares of company stock valued at $3,724,023 in the last quarter. 3.79% of the stock is currently 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.

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

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