Equity Residential (NYSE:EQR) Shares Sold by Glassman Wealth Services

Glassman Wealth Services lowered its holdings in shares of Equity Residential (NYSE:EQR) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436 shares of the real estate investment trust’s stock after selling 346 shares during the period. Glassman Wealth Services’ holdings in Equity Residential were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its position in shares of Equity Residential by 264.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 374,059 shares of the real estate investment trust’s stock valued at $21,961,000 after buying an additional 271,294 shares during the last quarter. Xponance Inc. raised its position in shares of Equity Residential by 8.0% in the third quarter. Xponance Inc. now owns 48,772 shares of the real estate investment trust’s stock valued at $2,863,000 after buying an additional 3,595 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of Equity Residential in the third quarter valued at approximately $1,154,000. Raymond James & Associates raised its position in shares of Equity Residential by 1.6% in the third quarter. Raymond James & Associates now owns 152,505 shares of the real estate investment trust’s stock valued at $8,954,000 after buying an additional 2,406 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Equity Residential by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,887 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 574 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Equity Residential from $58.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Monday, April 22nd. Wedbush restated a “neutral” rating and issued a $68.00 target price on shares of Equity Residential in a report on Monday. Piper Sandler boosted their target price on shares of Equity Residential from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average price target of $67.04.

Equity Residential Trading Up 2.4 %

EQR traded up $1.52 during trading on Thursday, hitting $65.56. 2,437,070 shares of the company’s stock were exchanged, compared to its average volume of 2,126,629. The firm has a market cap of $24.88 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The stock has a 50 day moving average price of $62.24 and a 200 day moving average price of $59.93. The company has a current ratio of 0.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.64. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $730.80 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.87 earnings per share. As a group, analysts expect that Equity Residential will post 3.88 EPS for the current fiscal year.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.12%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio is currently 112.03%.

Insider Transactions at Equity Residential

In other news, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares in the company, valued at $636,465.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael L. Manelis sold 1,639 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the completion of the transaction, the chief operating officer now owns 31,053 shares in the company, valued at approximately $1,845,479.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,548 shares of company stock worth $666,351. Insiders own 1.00% of the company’s stock.

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.