Raymond James Financial Services Advisors Inc. boosted its stake in shares of Equity Residential (NYSE:EQR) by 7.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,316 shares of the real estate investment trust’s stock after purchasing an additional 624 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Equity Residential were worth $552,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Avengers Inc. purchased a new position in Equity Residential during the fourth quarter valued at approximately $27,000. CX Institutional grew its position in Equity Residential by 307.0% during the fourth quarter. CX Institutional now owns 464 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 350 shares in the last quarter. Sterling Financial Planning Inc. bought a new stake in Equity Residential in the fourth quarter worth approximately $30,000. Berman Capital Advisors LLC grew its position in Equity Residential by 22.6% in the fourth quarter. Berman Capital Advisors LLC now owns 851 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 157 shares in the last quarter. Finally, Mcmillion Capital Management Inc. bought a new stake in Equity Residential in the fourth quarter worth approximately $55,000. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Equity Residential stock opened at $72.34 on Thursday. The firm has a market capitalization of $26.96 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.80 and a quick ratio of 0.80. The company’s fifty day moving average price is $70.35 and its two-hundred day moving average price is $60.96. Equity Residential has a 52-week low of $45.42 and a 52-week high of $76.13.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Monday, March 29th will be issued a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 26th. Equity Residential’s dividend payout ratio (DPR) is presently 69.05%.
In other news, COO Michael L. Manelis sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $72.92, for a total value of $729,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christa L. Sorenson sold 343 shares of the company’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $73.00, for a total transaction of $25,039.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Several analysts have commented on the stock. Mizuho boosted their target price on shares of Equity Residential from $68.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, March 15th. Truist downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Friday, March 19th. Evercore ISI raised shares of Equity Residential from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 20th. Morgan Stanley boosted their target price on shares of Equity Residential from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, March 22nd. Finally, BMO Capital Markets raised shares of Equity Residential from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $57.00 to $61.00 in a research report on Monday, January 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Equity Residential presently has an average rating of “Hold” and a consensus target price of $65.44.
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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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