Equity Residential (NYSE:EQR) Holdings Increased by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in Equity Residential (NYSE:EQR – Get Rating) by 66.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,786 shares of the real estate investment trust’s stock after acquiring an additional 10,306 shares during the quarter. HighTower Advisors LLC’s holdings in Equity Residential were worth $1,512,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EQR. Hollencrest Capital Management acquired a new position in shares of Equity Residential in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Equity Residential by 290.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 410 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 305 shares during the last quarter. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Equity Residential in the 4th quarter worth approximately $35,000. Guardian Wealth Advisors LLC acquired a new position in shares of Equity Residential in the 3rd quarter worth approximately $41,000. Finally, CVA Family Office LLC grew its stake in shares of Equity Residential by 84.0% in the 3rd quarter. CVA Family Office LLC now owns 690 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Insider Transactions at Equity Residential

In related news, Director Mark S. Shapiro sold 42,435 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $61.91, for a total transaction of $2,627,150.85. Following the transaction, the director now owns 12,497 shares of the company’s stock, valued at $773,689.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Equity Residential in a research report on Wednesday, March 29th. They issued an “equal weight” rating and a $62.00 target price on the stock. Morgan Stanley lifted their target price on shares of Equity Residential from $67.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Piper Sandler lifted their target price on shares of Equity Residential from $59.00 to $63.00 in a research report on Monday, May 1st. Mizuho dropped their target price on shares of Equity Residential from $72.00 to $68.00 in a research report on Friday, May 19th. Finally, Truist Financial boosted their price objective on shares of Equity Residential from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, March 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.18.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $59.47 on Friday. The firm has a fifty day simple moving average of $60.40 and a 200-day simple moving average of $61.48. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.65. Equity Residential has a 1-year low of $54.60 and a 1-year high of $80.89. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 3.31 and a beta of 0.81.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, March 27th were paid a $0.6625 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.46%. This is a boost from Equity Residential’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, March 24th. Equity Residential’s payout ratio is presently 109.05%.

Equity Residential Profile

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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.