Nomura Asset Management Co. Ltd. Trims Stake in Equity Residential (EQR)

Nomura Asset Management Co. Ltd. reduced its position in Equity Residential (NYSE:EQR) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 265,237 shares of the real estate investment trust’s stock after selling 24,926 shares during the period. Nomura Asset Management Co. Ltd. owned 0.07% of Equity Residential worth $17,488,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd raised its stake in Equity Residential by 1.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 64 shares during the last quarter. D.A. Davidson & CO. raised its stake in Equity Residential by 4.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 73 shares during the last quarter. Suntrust Banks Inc. raised its stake in Equity Residential by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 17,043 shares of the real estate investment trust’s stock valued at $1,121,000 after acquiring an additional 108 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in Equity Residential by 5.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,629 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 191 shares during the last quarter. Finally, Kemper Corp Master Retirement Trust raised its stake in Equity Residential by 1.7% during the 2nd quarter. Kemper Corp Master Retirement Trust now owns 13,305 shares of the real estate investment trust’s stock valued at $876,000 after acquiring an additional 225 shares during the last quarter. 94.13% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on EQR. BidaskClub downgraded Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 price objective on shares of Equity Residential in a research note on Monday, November 27th. Deutsche Bank upped their price objective on Equity Residential from $67.00 to $69.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.47.

Equity Residential (NYSE:EQR) traded down $0.79 during midday trading on Wednesday, reaching $65.51. The company’s stock had a trading volume of 1,133,900 shares, compared to its average volume of 1,692,983. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.24 and a quick ratio of 0.24. Equity Residential has a 52 week low of $59.49 and a 52 week high of $70.46. The firm has a market cap of $24,364.24, a PE ratio of 21.39, a price-to-earnings-growth ratio of 3.36 and a beta of 0.36.

In related news, CEO David J. Neithercut sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $7,017,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bruce C. Strohm sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $68.50, for a total value of $685,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 412,380 shares of company stock worth $28,348,622 in the last quarter. 3.79% of the stock is currently owned by insiders.

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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.

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

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