Toronto Dominion Bank Decreases Position in Equity Residential (NYSE:EQR)

Toronto Dominion Bank trimmed its holdings in Equity Residential (NYSE:EQR) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,027 shares of the real estate investment trust’s stock after selling 54,847 shares during the period. Toronto Dominion Bank owned approximately 0.08% of Equity Residential worth $22,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new position in Equity Residential in the 2nd quarter valued at approximately $34,000. Trustcore Financial Services LLC purchased a new position in Equity Residential in the 2nd quarter valued at approximately $40,000. LLBH Private Wealth Management LLC purchased a new position in Equity Residential in the 2nd quarter valued at approximately $51,000. CSat Investment Advisory L.P. grew its stake in Equity Residential by 362.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 522 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Equity Residential in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

In other news, EVP Scott Fenster sold 2,118 shares of Equity Residential stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $84.12, for a total transaction of $178,166.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Neithercut sold 50,000 shares of Equity Residential stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.24, for a total transaction of $4,012,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 186,876 shares of company stock valued at $15,221,779 over the last ninety days. 3.75% of the stock is currently owned by insiders.

NYSE:EQR traded up $0.27 during trading hours on Friday, hitting $87.35. The stock had a trading volume of 34,696 shares, compared to its average volume of 1,726,367. The company has a 50 day simple moving average of $84.57 and a two-hundred day simple moving average of $78.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.45 and a quick ratio of 1.45. Equity Residential has a one year low of $62.40 and a one year high of $87.24. The firm has a market capitalization of $31.96 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 4.17 and a beta of 0.47.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The firm had revenue of $669.37 million during the quarter, compared to the consensus estimate of $667.59 million. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Equity Residential will post 3.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.5675 per share. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, September 27th. Equity Residential’s payout ratio is currently 69.85%.

A number of research firms recently weighed in on EQR. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, August 12th. ValuEngine lowered shares of Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks lifted their price objective on shares of Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley lifted their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $77.97.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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

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