Envestnet Asset Management Inc. Boosts Holdings in Equity Residential (NYSE:EQR)

Envestnet Asset Management Inc. grew its holdings in shares of Equity Residential (NYSE:EQR) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,819 shares of the real estate investment trust’s stock after acquiring an additional 22,693 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Equity Residential were worth $14,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in shares of Equity Residential in the first quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Equity Residential in the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new position in shares of Equity Residential in the first quarter worth approximately $41,000. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR stock opened at $75.28 on Wednesday. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. The stock has a market cap of $28.57 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 4.27 and a beta of 0.89. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $73.03 and its 200-day moving average price is $67.87.

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

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 112.03%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQR. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Royal Bank of Canada lifted their price target on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $82.00 in a report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.97.

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.