Arkadios Wealth Advisors Has $621,000 Stake in Equity Residential (NYSE:EQR)

Arkadios Wealth Advisors trimmed its holdings in Equity Residential (NYSE:EQR) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,343 shares of the real estate investment trust’s stock after selling 810 shares during the period. Arkadios Wealth Advisors’ holdings in Equity Residential were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forsta AP Fonden increased its stake in Equity Residential by 53.8% in the third quarter. Forsta AP Fonden now owns 94,000 shares of the real estate investment trust’s stock valued at $6,999,000 after acquiring an additional 32,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Equity Residential by 36.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,327 shares of the real estate investment trust’s stock valued at $3,501,000 after acquiring an additional 12,631 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in Equity Residential by 4.3% in the third quarter. Mediolanum International Funds Ltd now owns 20,064 shares of the real estate investment trust’s stock valued at $1,482,000 after acquiring an additional 818 shares during the last quarter. E. Ohman J or Asset Management AB bought a new position in Equity Residential in the third quarter valued at approximately $1,042,000. Finally, Legacy Capital Group California Inc. bought a new position in Equity Residential in the third quarter valued at approximately $524,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Trading Down 1.0 %

Shares of EQR stock opened at $74.27 on Wednesday. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83. 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 company has a 50-day simple moving average of $74.79 and a two-hundred day simple moving average of $69.93. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 6.17 and a beta of 0.89.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data 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 the consensus estimate of $735.26 million. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts anticipate that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price objective on the stock. Truist Financial boosted their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wedbush boosted their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada boosted their target price on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential has an average rating of “Hold” and a consensus target price of $75.97.

About Equity Residential

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.