FSM Wealth Advisors LLC Buys Shares of 3,565 Equity Residential (NYSE:EQR)

FSM Wealth Advisors LLC bought a new stake in Equity Residential (NYSE:EQR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,565 shares of the real estate investment trust’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in shares of Equity Residential by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 512,213 shares of the real estate investment trust’s stock worth $30,221,000 after purchasing an additional 143,469 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Equity Residential by 2.3% during the 4th quarter. Intech Investment Management LLC now owns 17,065 shares of the real estate investment trust’s stock worth $1,007,000 after purchasing an additional 379 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of Equity Residential by 0.6% during the 1st quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 167 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Equity Residential by 1,058.8% during the 4th quarter. Engineers Gate Manager LP now owns 37,671 shares of the real estate investment trust’s stock worth $2,223,000 after purchasing an additional 34,420 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Equity Residential during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 84.79% of the company’s stock.

Insider Buying and Selling

In other Equity Residential news, COO Michael L. Manelis sold 2,500 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $66.04, for a total value of $165,100.00. Following the completion of the transaction, the chief operating officer now directly owns 22,844 shares of the company’s stock, valued at $1,508,617.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.69% of the stock is owned by insiders.

Equity Residential Trading Down 1.1 %

Shares of Equity Residential stock traded down $0.72 during trading on Monday, reaching $62.44. 374,303 shares of the company were exchanged, compared to its average volume of 1,894,595. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.67. Equity Residential has a twelve month low of $54.60 and a twelve month high of $72.49. The business has a 50-day moving average price of $65.32 and a 200-day moving average price of $63.07. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 3.13 and a beta of 0.82.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Tuesday, September 26th will be paid a dividend of $0.6625 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.24%. Equity Residential’s dividend payout ratio (DPR) is presently 119.91%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Equity Residential from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 19th. Truist Financial raised their target price on Equity Residential from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. StockNews.com initiated coverage on Equity Residential in a research report on Thursday, August 17th. They set a “hold” rating for the company. BMO Capital Markets upgraded Equity Residential from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $60.00 to $64.00 in a research report on Monday, June 5th. Finally, 3M restated an “upgrade” rating on shares of Equity Residential in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Equity Residential has an average rating of “Hold” and an average price target of $69.94.

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 304 properties consisting of 80,212 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.