Makena Capital Management LLC Has $10.44 Million Holdings in Equity Residential (NYSE:EQR)

Makena Capital Management LLC reduced its stake in shares of Equity Residential (NYSE:EQR) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 140,138 shares of the real estate investment trust’s stock after selling 3,282 shares during the period. Equity Residential comprises about 2.5% of Makena Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Makena Capital Management LLC’s holdings in Equity Residential were worth $10,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Maryland Capital Advisors Inc. purchased a new position in Equity Residential during the 3rd quarter worth $25,000. Assetmark Inc. grew its position in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. increased its stake 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 valued at $35,000 after buying an additional 195 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position 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 worth $36,000 after buying an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Equity Residential by 146.6% in the 2nd 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 last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EQR. Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank cut their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Wedbush increased their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target 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. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Stock Down 0.8 %

Shares of NYSE EQR opened at $73.92 on Thursday. The firm’s fifty day moving average is $74.21 and its 200 day moving average is $70.94. Equity Residential has a 52 week low of $55.78 and a 52 week high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $28.05 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 6.06 and a beta of 0.90.

Equity Residential Dividend Announcement

The firm also recently declared 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. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

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.