JLP Asset Management LLC Has $8.17 Million Stock Holdings in Equity Residential (NYSE:EQR)

JLP Asset Management LLC lessened its position in Equity Residential (NYSE:EQR - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,600 shares of the real estate investment trust's stock after selling 28,600 shares during the period. Equity Residential comprises 9.7% of JLP Asset Management LLC's portfolio, making the stock its 2nd largest holding. JLP Asset Management LLC's holdings in Equity Residential were worth $8,171,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Rye Brook Capital LLC increased its position in Equity Residential by 0.4% during the third quarter. Rye Brook Capital LLC now owns 48,650 shares of the real estate investment trust's stock worth $2,856,000 after purchasing an additional 200 shares during the last quarter. First Affirmative Financial Network increased its position in Equity Residential by 3.5% during the third quarter. First Affirmative Financial Network now owns 6,194 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 210 shares during the last quarter. United Capital Financial Advisers LLC increased its position in Equity Residential by 0.9% during the first quarter. United Capital Financial Advisers LLC now owns 22,740 shares of the real estate investment trust's stock worth $2,045,000 after purchasing an additional 212 shares during the last quarter. Kinneret Advisory LLC increased its position in Equity Residential by 2.3% during the first quarter. Kinneret Advisory LLC now owns 9,989 shares of the real estate investment trust's stock worth $904,000 after purchasing an additional 223 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in Equity Residential by 17.4% during the first quarter. Advisory Services Network LLC now owns 1,529 shares of the real estate investment trust's stock worth $92,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

EQR has been the subject of several research analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $62.00 price target on shares of Equity Residential in a research report on Tuesday, March 26th. Mizuho decreased their price objective on shares of Equity Residential from $62.00 to $61.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity Residential in a research note on Tuesday, January 30th. They set a "hold" rating and a $64.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, February 1st. Finally, Raymond James upgraded shares of Equity Residential from an "underperform" rating to a "market perform" rating in a research note on Monday, March 18th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Equity Residential currently has a consensus rating of "Hold" and an average price target of $66.04.

Equity Residential Stock Performance

Shares of NYSE:EQR traded up $2.04 on Monday, reaching $63.83. 2,324,433 shares of the company's stock were exchanged, compared to its average volume of 2,092,341. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.63 and a beta of 0.84. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The business's 50-day moving average is $61.11 and its two-hundred day moving average is $59.49. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66.

Equity Residential (NYSE:EQR - Get Free Report) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.18). Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The business had revenue of $727.50 million for the quarter, compared to analyst estimates of $725.07 million. During the same period last year, the company posted $0.94 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Equity Residential will post 3.81 EPS for the current year.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Monday, March 25th will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, March 22nd. This is a boost from Equity Residential's previous quarterly dividend of $0.66. Equity Residential's dividend payout ratio (DPR) is 122.73%.

Insider Buying and Selling

In related news, COO Michael L. Manelis sold 1,639 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the sale, the chief operating officer now owns 31,053 shares of the company's stock, valued at approximately $1,845,479.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Equity Residential news, CFO Robert Garechana sold 876 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $50,632.80. Following the transaction, the chief financial officer now owns 20,933 shares of the company's stock, valued at approximately $1,209,927.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael L. Manelis sold 1,639 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the transaction, the chief operating officer now directly owns 31,053 shares in the company, valued at approximately $1,845,479.79. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock valued at $192,335 in the last quarter. Company insiders own 1.69% of the company's stock.

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.