The Manufacturers Life Insurance Company Sells 51,919 Shares of Equity Residential $EQR

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Equity Residential by 10.0%, owning approximately $33.49 million worth of shares after selling 51,919 during the first quarter.
• Equity Residential reported earnings of $0.99 per share, meeting consensus estimates, with a revenue of $768.83 million for the quarter.
• The company has a quarterly dividend of $0.6925 per share, resulting in an annualized dividend yield of 4.2%.

The Manufacturers Life Insurance Company decreased its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,853 shares of the real estate investment trust's stock after selling 51,919 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Equity Residential worth $33,489,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQR. UBS Group dropped their price target on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Scotiabank dropped their price objective on Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. 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 report on Wednesday, August 13th. Barclays reduced their price objective 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, Wells Fargo & Company dropped their target price on shares of Equity Residential from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report 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. According to data from MarketBeat, Equity Residential currently has an average rating of "Moderate Buy" and an average target price of $76.90.

Equity Residential Price Performance

NYSE:EQR traded up $0.91 during trading hours on Thursday, hitting $65.58. The company's stock had a trading volume of 1,391,157 shares, compared to its average volume of 1,894,288. Equity Residential has a twelve month low of $59.41 and a twelve month 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 stock has a fifty day simple moving average of $65.53 and a 200-day simple moving average of $68.14. The company has a market capitalization of $25.05 billion, a P/E ratio of 24.75, a PEG ratio of 3.28 and a beta of 0.93.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business 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. On average, analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

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