Cresset Asset Management LLC Has $330,000 Position in Equity Residential (NYSE:EQR)

Cresset Asset Management LLC cut its position in Equity Residential (NYSE:EQR - Free Report) by 73.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,602 shares of the real estate investment trust's stock after selling 12,888 shares during the period. Cresset Asset Management LLC's holdings in Equity Residential were worth $330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Equity Residential by 119.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock valued at $34,714,000 after buying an additional 263,622 shares in the last quarter. Vert Asset Management LLC lifted its position in shares of Equity Residential by 7.5% during the fourth quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock worth $10,782,000 after purchasing an additional 10,472 shares in the last quarter. Mission Wealth Management LP acquired a new position in shares of Equity Residential during the fourth quarter worth approximately $321,000. Atomi Financial Group Inc. lifted its position in shares of Equity Residential by 8.3% during the fourth quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust's stock worth $266,000 after purchasing an additional 284 shares in the last quarter. Finally, Keybank National Association OH lifted its position in shares of Equity Residential by 2.0% during the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 139 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Trading Down 0.3%

NYSE:EQR traded down $0.22 during trading hours on Tuesday, hitting $71.13. The stock had a trading volume of 1,355,695 shares, compared to its average volume of 1,730,420. Equity Residential has a one year low of $59.41 and a one year high of $78.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 3.99 and a beta of 0.89. The business's 50 day moving average is $68.92 and its 200-day moving average is $70.86.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. Equity Residential had a net margin of 34.76% and a return on equity of 9.27%. The business had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. During the same period last year, the business posted $0.93 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 31st. Equity Residential's dividend payout ratio (DPR) is presently 105.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Barclays upped their target price on shares of Equity Residential from $79.00 to $83.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Stifel Nicolaus reduced their target price on shares of Equity Residential from $82.25 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Equity Residential has an average rating of "Hold" and a consensus target price of $79.69.

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.