Riverview Capital Advisers LLC Lowers Stock Position in Equity Residential (NYSE:EQR)

Riverview Capital Advisers LLC decreased its stake in Equity Residential (NYSE:EQR) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,280 shares of the real estate investment trust’s stock after selling 2,558 shares during the period. Equity Residential comprises about 1.5% of Riverview Capital Advisers LLC’s investment portfolio, making the stock its 23rd biggest position. Riverview Capital Advisers LLC’s holdings in Equity Residential were worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its stake in shares of Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the last quarter. Mystic Asset Management Inc. increased its holdings in shares of Equity Residential by 3.8% in the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 200 shares during the period. Whittier Trust Co. lifted its stake in shares of Equity Residential by 12.4% in the 2nd quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 201 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Equity Residential by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,864 shares of the real estate investment trust’s stock valued at $815,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

NYSE EQR opened at $77.08 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 4.27 and a beta of 0.89. The business’s fifty day moving average price is $72.34 and its 200-day moving average price is $67.45.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts predict that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.50%. Equity Residential’s payout ratio is presently 112.03%.

Wall Street Analysts Forecast Growth

EQR has been the topic of several recent analyst reports. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Scotiabank upped their target price on Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Monday. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada raised their target price on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $75.62.

Insider Buying and Selling at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the sale, the chief financial officer now owns 14,576 shares in the company, valued at $1,006,910.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

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.