Successful Portfolios LLC Has $213,000 Stake in Equity Residential (NYSE:EQR)

Successful Portfolios LLC trimmed its position in shares of Equity Residential (NYSE:EQR) by 5.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,374 shares of the real estate investment trust’s stock after selling 206 shares during the quarter. Successful Portfolios LLC’s holdings in Equity Residential were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Equity Residential by 0.7% during the third quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after purchasing an additional 372,181 shares during the period. Norges Bank acquired a new position in shares of Equity Residential during the fourth quarter worth approximately $2,143,388,000. APG Asset Management US Inc. raised its position in Equity Residential by 0.6% in the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock valued at $709,349,000 after buying an additional 71,716 shares during the last quarter. First Eagle Investment Management LLC raised its position in Equity Residential by 5.9% in the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock valued at $570,333,000 after buying an additional 516,941 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in Equity Residential by 5.9% in the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after buying an additional 309,796 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on EQR shares. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Evercore ISI lowered Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price target for the company. in a research report on Monday, May 13th. Truist Financial increased their price target on Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Scotiabank increased their price target on Equity Residential from $65.00 to $72.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Finally, Wedbush reissued a “neutral” rating and issued a $68.00 price target on shares of Equity Residential in a research report on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $69.09.

Insider Buying and Selling

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

Equity Residential Stock Down 1.8 %

EQR stock opened at $68.12 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $25.85 billion, a PE ratio of 28.27, a PEG ratio of 3.98 and a beta of 0.87. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.65. The stock has a 50-day simple moving average of $66.15 and a two-hundred day simple moving average of $62.89.

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

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a $0.675 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.70 dividend on an annualized basis and a yield of 3.96%. Equity Residential’s payout ratio is 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.