DoubleLine ETF Adviser LP Sells 4,724 Shares of Equity Residential $EQR

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Equity Residential by 19.2%, now holding 19,818 shares valued at approximately $1,419,000.
• Several large investors, including Versant Capital Management Inc, increased their positions in Equity Residential, with Versant raising its stake by 51.6% during the same quarter.
• Equity Residential's latest earnings report showed an EPS of $0.99 and revenue of $768.83 million, with a year-over-year revenue growth of 4.7%.

DoubleLine ETF Adviser LP trimmed its holdings in Equity Residential (NYSE:EQR - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,818 shares of the real estate investment trust's stock after selling 4,724 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Equity Residential were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. increased its stake in shares of Equity Residential by 9.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 500,297 shares of the real estate investment trust's stock valued at $35,811,000 after buying an additional 45,110 shares in the last quarter. Eventide Asset Management LLC bought a new position in shares of Equity Residential during the 1st quarter worth approximately $27,944,000. Alliancebernstein L.P. boosted its stake in Equity Residential by 0.6% in the 1st quarter. Alliancebernstein L.P. now owns 458,324 shares of the real estate investment trust's stock valued at $32,807,000 after purchasing an additional 2,874 shares during the period. Beaird Harris Wealth Management LLC bought a new stake in shares of Equity Residential during the 1st quarter valued at $56,000. Finally, AQR Capital Management LLC raised its holdings in shares of Equity Residential by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 155,111 shares of the real estate investment trust's stock worth $11,103,000 after buying an additional 13,501 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQR shares. Evercore ISI cut their target price on Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Stifel Nicolaus set a $80.50 price target on Equity Residential and gave the company a "buy" rating in a report on Tuesday, August 5th. Wedbush reissued a "neutral" rating and set a $75.00 price target on shares of Equity Residential in a report on Wednesday, May 28th. Scotiabank dropped their price objective on shares of Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Equity Residential from $75.00 to $68.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.90.

Equity Residential Price Performance

EQR traded down $0.11 during midday trading on Tuesday, reaching $66.28. 692,689 shares of the company's stock were exchanged, compared to its average volume of 1,931,667. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17. The business's 50-day moving average price is $65.46 and its 200 day moving average price is $67.99. The stock has a market capitalization of $25.31 billion, a PE ratio of 25.03, a P/E/G ratio of 3.39 and a beta of 0.93.

Equity Residential (NYSE:EQR - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. As a group, equities analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th were issued a $0.6925 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.2%. 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.