Equity Residential (NYSE:EQR) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its stake in shares of Equity Residential (NYSE:EQR) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,872 shares of the real estate investment trust’s stock after selling 1,203 shares during the quarter. Naviter Wealth LLC’s holdings in Equity Residential were worth $1,105,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EQR. Robeco Institutional Asset Management B.V. increased its stake in Equity Residential by 264.0% in the 3rd 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 period. Xponance Inc. grew its position in Equity Residential by 8.0% during the third quarter. Xponance Inc. now owns 48,772 shares of the real estate investment trust’s stock worth $2,863,000 after buying an additional 3,595 shares during the period. Dakota Wealth Management purchased a new stake in shares of Equity Residential during the 3rd quarter worth approximately $1,154,000. Raymond James & Associates increased its stake in Equity Residential by 1.6% in the 3rd quarter. Raymond James & Associates now owns 152,505 shares of the real estate investment trust’s stock valued at $8,954,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Equity Residential by 5.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,887 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 574 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equity Residential

In other news, CAO Ian Kaufman sold 716 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares in the company, valued at $1,384,252.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares in the company, valued at approximately $1,384,252.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the sale, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders have sold 3,280 shares of company stock valued at $192,335 in the last three months. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EQR. Piper Sandler lifted their target price on shares of Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective on the stock. Raymond James upgraded shares of Equity Residential from an “underperform” rating to a “market perform” rating in a report on Monday, March 18th. 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 research report on Monday, February 26th. Finally, Royal Bank of Canada lifted their target price on Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.04.

Equity Residential Trading Up 0.2 %

Shares of EQR opened at $65.30 on Tuesday. The stock’s 50-day moving average price is $62.10 and its 200 day moving average price is $59.87. The company has a quick ratio of 0.30, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 3.78 and a beta of 0.84. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.45.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (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 revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, research analysts predict that Equity Residential will post 3.85 earnings per share for the current year.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a dividend of $0.675 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.13%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Equity Residential 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.