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

Naviter Wealth LLC cut its holdings in shares of Equity Residential (NYSE:EQR) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,211 shares of the real estate investment trust’s stock after selling 1,310 shares during the quarter. Naviter Wealth LLC’s holdings in Equity Residential were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in EQR. Fidelis Capital Partners LLC acquired a new stake in Equity Residential in the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Equity Residential during the 1st quarter worth approximately $41,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQR has been the topic of several recent analyst reports. Piper Sandler increased their target price on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial increased their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BNP Paribas began coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target for the company. Wedbush boosted their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Down 0.6 %

Shares of Equity Residential stock traded down $0.42 on Thursday, hitting $74.27. The company had a trading volume of 21,314 shares, compared to its average volume of 1,866,477. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market capitalization of $28.19 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 6.05 and a beta of 0.89. The stock has a 50 day moving average of $74.12 and a 200-day moving average of $69.08. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83.

Equity Residential (NYSE:EQR) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the prior year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.64%. Equity Residential’s dividend payout ratio is presently 112.03%.

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.