Envestnet Asset Management Inc. Decreases Holdings in Equity Residential (NYSE:EQR)

Envestnet Asset Management Inc. lowered its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 41.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,323 shares of the real estate investment trust's stock after selling 85,289 shares during the period. Envestnet Asset Management Inc.'s holdings in Equity Residential were worth $8,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Transamerica Financial Advisors Inc. grew its position in shares of Equity Residential by 4.1% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust's stock valued at $275,000 after purchasing an additional 151 shares in the last quarter. Versant Capital Management Inc grew its holdings in Equity Residential by 51.6% in the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 157 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Equity Residential by 27.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 160 shares during the last quarter. Avior Wealth Management LLC raised 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 period. Finally, Global X Japan Co. Ltd. raised its holdings in shares of Equity Residential by 24.8% during the 1st quarter. Global X Japan Co. Ltd. now owns 896 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

EQR has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Mizuho decreased their price objective on Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wedbush reiterated a "neutral" rating and issued a $75.00 price objective on shares of Equity Residential in a research report on Wednesday, May 28th. Finally, UBS Group reduced their target price on Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Equity Residential has a consensus rating of "Moderate Buy" and an average target price of $78.81.

Equity Residential Stock Down 0.9%

Shares of NYSE:EQR traded down $0.61 during trading on Thursday, hitting $67.73. The company's stock had a trading volume of 702,470 shares, compared to its average volume of 1,860,790. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.83. The business has a 50 day moving average price of $68.29 and a two-hundred day moving average price of $69.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $25.73 billion, a PE ratio of 25.85, a P/E/G ratio of 3.53 and a beta of 0.88.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. Equity Residential's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. As a group, research analysts expect that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were given a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Tuesday, June 24th. Equity Residential's dividend payout ratio is presently 105.73%.

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.