Boston Partners Has $174.18 Million Stake in Equity Residential (NYSE:EQR)

Key Points

• Boston Partners has reduced its stake in Equity Residential by 17.0%, selling 500,197 shares and owning 2,433,646 shares valued at approximately $174.18 million as of the latest SEC filing.
• Equity Residential reported earnings of $0.99 per share for the last quarter, matching analyst estimates, with a revenues of $768.83 million, up 4.7% compared to the previous year.
• The company announced a quarterly dividend of $0.6925 per share, resulting in an annual yield of 4.3%, despite a payout ratio of 104.53%.

Boston Partners lowered its position in Equity Residential (NYSE:EQR - Free Report) by 17.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,433,646 shares of the real estate investment trust's stock after selling 500,197 shares during the quarter. Boston Partners owned 0.64% of Equity Residential worth $174,184,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Equity Residential by 51.6% during the 1st 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 period. GKV Capital Management Co. Inc. bought a new position in shares of Equity Residential during the 1st quarter worth approximately $37,000. Zions Bancorporation National Association UT bought a new position in shares of Equity Residential during the 1st quarter worth approximately $48,000. Kapitalo Investimentos Ltda bought a new position in shares of Equity Residential during the 4th quarter worth approximately $51,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Equity Residential by 27.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after buying an additional 160 shares during the period. Institutional investors own 92.68% of the company's stock.

Wall Street Analyst Weigh In

EQR has been the subject of several research analyst reports. Mizuho cut their price objective on Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. UBS Group cut their price objective on Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Barclays cut their price objective on Equity Residential from $83.00 to $81.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Scotiabank reiterated a "sector perform" rating and issued a $77.00 price objective (down previously from $78.00) on shares of Equity Residential in a research report on Thursday. Finally, Wedbush reaffirmed a "neutral" rating and set a $75.00 price target on shares of Equity Residential in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential currently has an average rating of "Hold" and a consensus price target of $77.78.

Equity Residential Stock Up 0.9%

Shares of Equity Residential stock traded up $0.60 during trading on Friday, reaching $64.11. The stock had a trading volume of 3,890,265 shares, compared to its average volume of 2,275,611. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.25 and a beta of 0.92. The stock has a fifty day moving average price of $66.56 and a two-hundred day moving average price of $68.69. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.83. 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 issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%. The company had revenue of $768.83 million for the quarter, compared to analyst estimates of $770.60 million. During the same period in the previous year, the company posted $0.97 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 24th were issued a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, June 24th. Equity Residential's dividend payout ratio is presently 104.53%.

About Equity Residential

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.