RB Capital Management LLC Sells 1,038 Shares of Equity Residential (NYSE:EQR)

RB Capital Management LLC lowered its holdings in shares of Equity Residential (NYSE:EQR) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,187 shares of the real estate investment trust’s stock after selling 1,038 shares during the period. RB Capital Management LLC’s holdings in Equity Residential were worth $929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Equity Residential by 39.3% in the third quarter. Envestnet Asset Management Inc. now owns 234,022 shares of the real estate investment trust’s stock worth $13,739,000 after purchasing an additional 65,982 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Equity Residential during the 4th quarter worth approximately $1,110,000. Wellington Management Group LLP grew its position in Equity Residential by 61.9% in the third quarter. Wellington Management Group LLP now owns 64,809 shares of the real estate investment trust’s stock valued at $3,805,000 after acquiring an additional 24,787 shares during the period. Banque Cantonale Vaudoise raised its stake in Equity Residential by 128.7% during the third quarter. Banque Cantonale Vaudoise now owns 11,372 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 6,400 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Equity Residential by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 743,250 shares of the real estate investment trust’s stock valued at $43,636,000 after acquiring an additional 82,773 shares during the period. Institutional investors own 92.68% of the company’s stock.

Insider Activity at Equity Residential

In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now directly owns 69,901 shares in the company, valued at $4,544,264.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ian Kaufman sold 716 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the sale, the chief accounting officer now directly owns 23,949 shares in the company, valued at approximately $1,384,252.20. The disclosure for this sale can be found here. Insiders have sold 10,548 shares of company stock valued at $666,351 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Equity Residential Price Performance

NYSE:EQR traded down $0.36 during trading hours on Wednesday, reaching $64.04. 2,356,984 shares of the company were exchanged, compared to its average volume of 2,107,555. The business has a 50 day moving average of $62.18 and a 200 day moving average of $59.91. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.30. The company has a market capitalization of $24.31 billion, a P/E ratio of 26.72, a P/E/G ratio of 3.79 and a beta of 0.84.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. Research analysts forecast that Equity Residential will post 3.85 EPS for the current year.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were given a dividend of $0.675 per share. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s dividend payout ratio is currently 112.03%.

Analyst Ratings Changes

EQR has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Equity Residential from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $68.00 to $70.00 in a report on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating and set a $70.00 target price on shares of Equity Residential in a report on Thursday, February 22nd. Evercore ISI increased their price objective on shares of Equity Residential from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Morgan Stanley upped their target price on shares of Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a report on Monday, March 18th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.04.

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.