Envestnet Asset Management Inc. Increases Stock Position in Equity Residential (NYSE:EQR)

Envestnet Asset Management Inc. boosted its stake in shares of Equity Residential (NYSE:EQR) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,819 shares of the real estate investment trust’s stock after buying an additional 22,693 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Equity Residential worth $14,480,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Equity Residential by 36.6% during the first quarter. BNP Paribas Financial Markets now owns 569,829 shares of the real estate investment trust’s stock valued at $35,962,000 after buying an additional 152,736 shares during the period. Royal London Asset Management Ltd. grew its position in Equity Residential by 13.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 165,650 shares of the real estate investment trust’s stock valued at $10,131,000 after buying an additional 20,010 shares during the period. QRG Capital Management Inc. grew its position in Equity Residential by 200.9% during the first quarter. QRG Capital Management Inc. now owns 77,019 shares of the real estate investment trust’s stock valued at $4,861,000 after buying an additional 51,423 shares during the period. Price T Rowe Associates Inc. MD grew its position in Equity Residential by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after buying an additional 381,236 shares during the period. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Equity Residential during the second quarter valued at about $3,893,000. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Scotiabank increased their target price on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Truist Financial increased their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.97.

Equity Residential Trading Down 1.9 %

Shares of EQR opened at $75.28 on Wednesday. The firm’s 50 day simple moving average is $73.03 and its 200 day simple moving average is $67.87. The company has a market capitalization of $28.57 billion, a P/E ratio of 31.24, a P/E/G ratio of 4.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83.

Equity Residential (NYSE:EQR) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Sell-side analysts forecast that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Equity Residential Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.