Sienna Gestion Has $8.41 Million Stock Holdings in Equity Residential (NYSE:EQR)

Key Points

• Sienna Gestion reduced its stake in Equity Residential by 6.1%, selling 7,889 shares during the first quarter, leaving them with 120,895 shares valued at approximately $8.4 million.
• Equity Residential's most recent quarterly earnings met expectations with an earnings per share (EPS) of $0.99, while revenue was reported at $768.83 million, showing a 4.7% increase year-over-year.
• The company has a current dividend yield of 4.3% with an annualized dividend of $2.77, despite a high dividend payout ratio of 104.53%.

Sienna Gestion lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,895 shares of the real estate investment trust's stock after selling 7,889 shares during the quarter. Sienna Gestion's holdings in Equity Residential were worth $8,412,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in EQR. Versant Capital Management Inc boosted its holdings in 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 valued at $33,000 after acquiring an additional 157 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Equity Residential in the 1st quarter worth $37,000. Zions Bancorporation National Association UT bought a new position in shares of Equity Residential in the 1st quarter worth $48,000. Kapitalo Investimentos Ltda acquired a new position in Equity Residential during the 4th quarter valued at about $51,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings 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 purchasing an additional 160 shares during the period. Institutional investors own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI lowered their target price on Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday. UBS Group reduced their target price on Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Scotiabank reaffirmed a "sector perform" rating and issued a $77.00 price target (down previously from $78.00) on shares of Equity Residential in a report on Thursday. Morgan Stanley cut their target price on Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus set a $80.50 price target on Equity Residential and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research 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. According to data from MarketBeat, Equity Residential currently has an average rating of "Hold" and an average price target of $77.78.

Equity Residential Stock Performance

Equity Residential stock traded up $0.60 on Friday, reaching $64.11. 3,890,265 shares of the stock were exchanged, compared to its average volume of 2,275,611. The firm has a fifty day moving average price of $66.56 and a two-hundred day moving average price of $68.69. The stock has a market cap of $24.48 billion, a PE ratio of 24.19, a PEG ratio of 3.25 and a beta of 0.92. 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 has a twelve month low of $59.41 and a twelve month high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The firm had revenue of $768.83 million for the quarter, compared to analysts' expectations of $770.60 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is presently 104.53%.

Equity Residential Company 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.