Equity Residential $EQR Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC reduced its stake in Equity Residential by 13.7%, selling 147,548 shares, and now holds 929,789 shares valued at approximately $66.55 million.
• Several institutional investors increased their positions in Equity Residential, with Versant Capital Management raising its stake by 51.6% during the 1st quarter.
• Equity Residential reported earnings of $0.99 per share for the last quarter, meeting analysts' consensus estimates, while its revenue increased by 4.7% year-over-year.

Adelante Capital Management LLC trimmed its position in Equity Residential (NYSE:EQR - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 929,789 shares of the real estate investment trust's stock after selling 147,548 shares during the quarter. Equity Residential makes up 4.7% of Adelante Capital Management LLC's holdings, making the stock its 6th largest position. Adelante Capital Management LLC owned about 0.24% of Equity Residential worth $66,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQR. Versant Capital Management Inc increased its position in Equity Residential by 51.6% during the first quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after buying an additional 157 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Equity Residential by 27.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 160 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Equity Residential by 4.4% during the 1st quarter. Greenleaf Trust now owns 3,858 shares of the real estate investment trust's stock worth $276,000 after acquiring an additional 162 shares during the period. Brown Advisory Inc. increased its holdings in shares of Equity Residential by 1.6% during the 1st quarter. Brown Advisory Inc. now owns 10,733 shares of the real estate investment trust's stock worth $768,000 after acquiring an additional 166 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Equity Residential by 2.9% during the 1st quarter. Avior Wealth Management LLC now owns 6,283 shares of the real estate investment trust's stock worth $450,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Equity Residential from $75.00 to $68.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Truist Financial dropped their price objective on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, August 29th. Evercore ISI cut their target price on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Barclays decreased their price target on shares of Equity Residential from $83.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.46.

Equity Residential Stock Performance

Shares of NYSE:EQR traded down $0.72 on Wednesday, reaching $65.90. 1,560,932 shares of the company's stock were exchanged, compared to its average volume of 1,885,826. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.83. The company has a fifty day moving average of $65.45 and a 200-day moving average of $67.98. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 3.38 and a beta of 0.93. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.75.

Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. The firm had revenue of $768.83 million for the quarter, compared to analyst estimates of $770.60 million. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The company's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, research analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 24th were paid a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 24th. Equity Residential's payout ratio is 104.53%.

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.