Modera Wealth Management LLC Acquires 200 Shares of Equity Residential (NYSE:EQR)

Modera Wealth Management LLC raised its holdings in shares of Equity Residential (NYSE:EQR) by 6.5% in the third quarter, HoldingsChannel.com reports. The firm owned 3,278 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. Modera Wealth Management LLC’s holdings in Equity Residential were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQR. Maryland Capital Advisors Inc. bought a new stake in Equity Residential during the 3rd quarter valued at $25,000. Fidelis Capital Partners LLC bought a new stake in Equity Residential during the 1st quarter valued at $27,000. UMB Bank n.a. increased its stake in 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 valued at $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its stake 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 purchasing an additional 327 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EQR shares. UBS Group lifted their price objective on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Truist Financial lifted their price objective 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. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average target price of $75.97.

Equity Residential Trading Down 1.0 %

Shares of Equity Residential 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 stock’s 50-day simple moving average is $74.79 and its 200 day simple moving average is $69.93. The stock has a market capitalization of $28.19 billion, a P/E ratio of 30.82, a P/E/G ratio of 6.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21.

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

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Tuesday, September 24th. 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.