Portfolio Design Labs LLC Sells 13,519 Shares of Equity Residential (NYSE:EQR)

Portfolio Design Labs LLC reduced its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 35.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,451 shares of the real estate investment trust's stock after selling 13,519 shares during the period. Portfolio Design Labs LLC's holdings in Equity Residential were worth $1,821,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Assetmark Inc. raised its position in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. raised its position in Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV increased 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 buying an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC increased 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 buying an additional 327 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Price Performance

Shares of NYSE EQR traded down $0.58 during mid-day trading on Wednesday, hitting $73.92. 1,359,326 shares of the company's stock traded hands, compared to its average volume of 1,845,859. The company's 50-day moving average is $74.26 and its two-hundred day moving average is $70.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $28.05 billion, a P/E ratio of 30.53, a PEG ratio of 5.98 and a beta of 0.90. Equity Residential has a 1 year low of $55.78 and a 1 year high of $78.83.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's dividend payout ratio is 110.66%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EQR shares. Royal Bank of Canada cut their target price on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Bank of America cut Equity Residential from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Wedbush boosted their price target on Equity Residential from $68.00 to $75.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Evercore ISI boosted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $77.25.

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.