Frank Rimerman Advisors LLC Grows Stake in Equity Residential (NYSE:EQR)

Frank Rimerman Advisors LLC grew its position in Equity Residential (NYSE:EQR) by 34.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,384 shares of the real estate investment trust’s stock after purchasing an additional 1,366 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Equity Residential were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Equity Residential in the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV raised its position in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in Equity Residential during the 4th quarter valued at approximately $33,000. HHM Wealth Advisors LLC increased its stake in Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Equity Residential in the first quarter worth $41,000. Institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the topic of several research reports. The Goldman Sachs Group started coverage on Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Truist Financial lifted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Tuesday, September 10th. Finally, Piper Sandler lifted their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $75.97.

Equity Residential Stock Down 1.9 %

EQR opened at $75.28 on Wednesday. The company has a fifty day moving average of $73.03 and a two-hundred day moving average of $67.87. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.27 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21.

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

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.59%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

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.