Cambridge Investment Research Advisors Inc. Lowers Stake in Equity Residential (NYSE:EQR)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Equity Residential (NYSE:EQR) by 20.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,273 shares of the real estate investment trust’s stock after selling 1,082 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Equity Residential were worth $346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EQR. HighTower Advisors LLC lifted its stake in shares of Equity Residential by 6.6% during the second quarter. HighTower Advisors LLC now owns 18,643 shares of the real estate investment trust’s stock worth $1,431,000 after purchasing an additional 1,162 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Equity Residential by 7.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,619 shares of the real estate investment trust’s stock worth $5,053,000 after acquiring an additional 4,563 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of Equity Residential by 49.9% in the second quarter. WINTON GROUP Ltd now owns 10,491 shares of the real estate investment trust’s stock worth $808,000 after acquiring an additional 3,492 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Equity Residential by 44.5% in the second quarter. Rafferty Asset Management LLC now owns 28,327 shares of the real estate investment trust’s stock worth $2,181,000 after acquiring an additional 8,730 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Equity Residential by 72.7% in the second quarter. Rockefeller Capital Management L.P. now owns 4,542 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 1,912 shares in the last quarter. Institutional investors own 83.09% of the company’s stock.

Several research analysts recently commented on EQR shares. Stifel Nicolaus started coverage on Equity Residential in a research note on Tuesday, December 7th. They issued a “hold” rating and a $93.00 price target on the stock. Wells Fargo & Company boosted their price target on Equity Residential from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, November 22nd. BTIG Research boosted their price target on Equity Residential from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, December 13th. Evercore ISI raised Equity Residential from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $89.00 in a report on Monday, September 20th. Finally, Truist Securities boosted their price objective on Equity Residential from $86.00 to $89.00 and gave the company a “hold” rating in a report on Monday, December 6th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus target price of $87.84.

NYSE:EQR opened at $90.83 on Friday. Equity Residential has a 52 week low of $59.88 and a 52 week high of $93.03. The firm has a market capitalization of $34.06 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 6.46 and a beta of 0.80. The stock has a 50 day moving average of $87.84 and a 200-day moving average of $84.68. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.75.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, October 26th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.40. Equity Residential had a return on equity of 9.92% and a net margin of 43.53%. The business had revenue of $623.21 million during the quarter, compared to analyst estimates of $607.14 million. During the same period in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that Equity Residential will post 2.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Monday, January 3rd were issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, December 31st. Equity Residential’s dividend payout ratio (DPR) is 85.46%.

In other Equity Residential news, Director David J. Neithercut sold 67,941 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $88.00, for a total value of $5,978,808.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Neithercut sold 39,674 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $88.00, for a total value of $3,491,312.00. The disclosure for this sale can be found here. Insiders sold a total of 167,641 shares of company stock valued at $14,729,008 over the last three months. Corporate insiders own 2.30% of the company’s stock.

About Equity Residential

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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