Telemus Capital LLC Lowers Holdings in Equity Residential (NYSE:EQR)

Telemus Capital LLC lowered its position in Equity Residential (NYSE:EQR) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,283 shares of the real estate investment trust’s stock after selling 328 shares during the period. Telemus Capital LLC’s holdings in Equity Residential were worth $568,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EQR. CWM LLC raised its position in shares of Equity Residential by 14.5% in the third quarter. CWM LLC now owns 3,566 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 452 shares during the period. Arkadios Wealth Advisors raised its position in shares of Equity Residential by 18.9% in the third quarter. Arkadios Wealth Advisors now owns 4,517 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 719 shares during the period. HB Wealth Management LLC acquired a new position in shares of Equity Residential in the third quarter worth about $210,000. Oak Thistle LLC raised its position in shares of Equity Residential by 192.9% during the 3rd quarter. Oak Thistle LLC now owns 26,053 shares of the real estate investment trust’s stock worth $1,530,000 after purchasing an additional 17,159 shares during the last quarter. Finally, Czech National Bank raised its position in shares of Equity Residential by 49.3% during the 3rd quarter. Czech National Bank now owns 60,284 shares of the real estate investment trust’s stock worth $3,539,000 after purchasing an additional 19,915 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 1,639 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,845,479.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Robert Garechana sold 876 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 $50,632.80. Following the sale, the chief financial officer now directly owns 20,933 shares in the company, valued at approximately $1,209,927.40. 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 1,639 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the sale, the chief operating officer now owns 31,053 shares in the company, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders sold 3,280 shares of company stock valued at $192,335 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Equity Residential Stock Performance

NYSE:EQR opened at $62.54 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $23.70 billion, a P/E ratio of 28.43, a PEG ratio of 3.57 and a beta of 0.84. The company has a 50 day moving average price of $61.58 and a 200 day moving average price of $59.71. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). The company had revenue of $727.50 million for the quarter, compared to analysts’ expectations of $725.07 million. Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Equities research analysts forecast that Equity Residential will post 3.86 EPS for the current year.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, March 22nd. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Wall Street Analyst Weigh In

EQR has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Truist Financial reduced their price target on shares of Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Equity Residential in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target for the company. Morgan Stanley increased their price objective 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $62.00 price objective on shares of Equity Residential in a report on Tuesday, March 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential has an average rating of “Hold” and a consensus price target of $65.75.

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.