Sovran Advisors LLC Acquires New Shares in Equity Residential (NYSE:EQR)

Sovran Advisors LLC bought a new position in Equity Residential (NYSE:EQR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,651 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Equity Residential by 12.7% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 10,768 shares of the real estate investment trust’s stock valued at $773,000 after purchasing an additional 1,214 shares during the last quarter. Soltis Investment Advisors LLC grew its position in Equity Residential by 6.0% in the 4th quarter. Soltis Investment Advisors LLC now owns 45,932 shares of the real estate investment trust’s stock worth $3,296,000 after purchasing an additional 2,608 shares during the period. AlphaStar Capital Management LLC raised its stake in Equity Residential by 32.4% during the 4th quarter. AlphaStar Capital Management LLC now owns 5,870 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 1,438 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Equity Residential by 8.2% during the 4th quarter. Empowered Funds LLC now owns 7,263 shares of the real estate investment trust’s stock valued at $516,000 after buying an additional 550 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Equity Residential by 143.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 933 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 550 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Up 0.8 %

Shares of EQR opened at $71.56 on Friday. The business’s 50 day moving average is $70.72 and its 200 day moving average is $72.74. The company has a current ratio of 0.36, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72. Equity Residential has a 12-month low of $58.10 and a 12-month high of $78.83. The company has a market capitalization of $27.15 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is presently 99.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQR. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Mizuho reduced their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Scotiabank dropped their price objective 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. Barclays cut their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Royal Bank of Canada decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus price target of $78.36.

Insider Buying and Selling

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares in the company, valued at $1,840,340.34. The trade was a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by insiders.

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.