Frank Rimerman Advisors LLC Grows Stake in Equity Residential (NYSE:EQR)

Frank Rimerman Advisors LLC increased its holdings in Equity Residential (NYSE:EQR) by 34.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,384 shares of the real estate investment trust’s stock after purchasing an additional 1,366 shares during the period. Frank Rimerman Advisors LLC’s holdings in Equity Residential were worth $373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of Equity Residential by 3.7% during the second quarter. ProShare Advisors LLC now owns 82,870 shares of the real estate investment trust’s stock worth $5,746,000 after acquiring an additional 2,960 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Equity Residential by 56.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 90,364 shares of the real estate investment trust’s stock valued at $6,266,000 after purchasing an additional 32,750 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Equity Residential by 896.2% during the second quarter. Westwood Holdings Group Inc. now owns 88,927 shares of the real estate investment trust’s stock valued at $6,166,000 after purchasing an additional 80,000 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Equity Residential by 7.9% in the second quarter. Sei Investments Co. now owns 1,146,244 shares of the real estate investment trust’s stock worth $79,480,000 after purchasing an additional 84,382 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Equity Residential by 4.7% in the second quarter. Pacer Advisors Inc. now owns 24,542 shares of the real estate investment trust’s stock worth $1,702,000 after buying an additional 1,110 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Trading Down 1.9 %

Shares of NYSE EQR opened at $75.28 on Wednesday. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.27 and a beta of 0.89. The business’s 50 day moving average price is $73.03 and its 200-day moving average price is $67.87.

Equity Residential (NYSE:EQR) last released 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 business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. On average, sell-side analysts expect that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EQR shares. Scotiabank raised their price target on Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. BNP Paribas began coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wedbush boosted their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $75.97.

Equity Residential Company 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.