Kingswood Wealth Advisors LLC Has $597,000 Stock Position in Equity Residential (NYSE:EQR)

Kingswood Wealth Advisors LLC lessened its holdings in Equity Residential (NYSE:EQR) by 39.8% during the first quarter, HoldingsChannel reports. The fund owned 9,467 shares of the real estate investment trust’s stock after selling 6,254 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Equity Residential were worth $597,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EQR. Janney Montgomery Scott LLC lifted its holdings in shares of Equity Residential by 11.5% in the third quarter. Janney Montgomery Scott LLC now owns 5,320 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 548 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Equity Residential by 39.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 234,022 shares of the real estate investment trust’s stock worth $13,739,000 after acquiring an additional 65,982 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Equity Residential during the 3rd quarter worth $83,000. Stifel Financial Corp grew its stake in shares of Equity Residential by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 50,084 shares of the real estate investment trust’s stock worth $2,941,000 after acquiring an additional 2,001 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Equity Residential by 3.6% in the third quarter. Natixis Advisors L.P. now owns 70,828 shares of the real estate investment trust’s stock valued at $4,158,000 after purchasing an additional 2,435 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Down 0.8 %

EQR opened at $68.02 on Thursday. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.57. The company has a market cap of $25.82 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.94 and a beta of 0.85. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $65.69 and a 200 day moving average of $62.69.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The firm had revenue of $730.80 million during the quarter, compared to analyst estimates of $728.09 million. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Equity Residential will post 3.88 EPS for the current year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, July 1st. Equity Residential’s payout ratio is 112.03%.

Insider Activity

In related news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the sale, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Alexander Brackenridge sold 4,027 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now directly owns 69,901 shares in the company, valued at $4,544,264.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the transaction, the chief financial officer now owns 14,576 shares in the company, valued at $1,006,910.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,625 shares of company stock worth $913,158. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. BMO Capital Markets raised Equity Residential from a “market perform” rating to an “outperform” rating and increased their price target for the company from $68.00 to $70.00 in a research report on Monday, April 22nd. Morgan Stanley boosted their price objective on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Truist Financial boosted their price target on shares of Equity Residential from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.47.

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.