Portfolio Design Labs LLC Cuts Stake in Equity Residential (NYSE:EQR)

Portfolio Design Labs LLC cut its stake in shares of Equity Residential (NYSE:EQR) by 35.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,451 shares of the real estate investment trust’s stock after selling 13,519 shares during the quarter. Portfolio Design Labs LLC’s holdings in Equity Residential were worth $1,821,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EQR. Tobam raised its holdings in Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 152 shares during the period. Checchi Capital Advisers LLC increased its position in Equity Residential by 4.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after buying 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 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. increased its holdings in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 195 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Equity Residential by 32.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

EQR has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Evercore ISI raised their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the stock from $77.75 to $81.50 in a research note on Wednesday, November 13th. Finally, Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and lifted their target price for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Performance

Equity Residential stock opened at $74.50 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a twelve month low of $54.70 and a twelve month high of $78.83. The company’s 50-day moving average price is $74.26 and its 200-day moving average price is $70.92. The company has a market cap of $28.27 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 5.98 and a beta of 0.90.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.62%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

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.