Avantax Advisory Services Inc. Purchases 455 Shares of Equity Residential (NYSE:EQR)

Avantax Advisory Services Inc. boosted its position in Equity Residential (NYSE:EQRFree Report) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,026 shares of the real estate investment trust’s stock after purchasing an additional 455 shares during the period. Avantax Advisory Services Inc.’s holdings in Equity Residential were worth $412,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Kestra Private Wealth Services LLC purchased a new position in Equity Residential in the third quarter valued at approximately $213,000. PARK CIRCLE Co purchased a new position in Equity Residential in the third quarter valued at approximately $882,000. Clearstead Advisors LLC lifted its stake in Equity Residential by 241.6% in the third quarter. Clearstead Advisors LLC now owns 1,018 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 720 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Equity Residential by 8.8% during the third quarter. Metis Global Partners LLC now owns 36,570 shares of the real estate investment trust’s stock worth $2,147,000 after acquiring an additional 2,971 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Equity Residential by 13.8% in the third quarter. Barclays PLC now owns 711,446 shares of the real estate investment trust’s stock worth $41,767,000 after acquiring an additional 86,385 shares during the period. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Equity Residential Trading Down 0.6 %

NYSE EQR opened at $58.86 on Monday. The stock’s 50-day simple moving average is $60.34 and its two-hundred day simple moving average is $60.27. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45. The company has a quick ratio of 0.18, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 3.46 and a beta of 0.84.

Equity Residential (NYSE:EQRGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm had revenue of $727.50 million for the quarter, compared to analysts’ expectations of $725.07 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts forecast that Equity Residential will post 3.81 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a $0.6625 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.65 annualized dividend and a dividend yield of 4.50%. Equity Residential’s dividend payout ratio is currently 120.45%.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of analyst reports. Piper Sandler cut their price target on Equity Residential from $71.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Stifel Nicolaus cut their price target on Equity Residential from $60.00 to $59.50 and set a “hold” rating for the company in a report on Friday, November 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Royal Bank of Canada raised their price target on Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Mizuho raised their price target on Equity Residential from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $66.18.

View Our Latest Analysis on Equity Residential

Insider Transactions at Equity Residential

In other news, COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the transaction, the chief operating officer now owns 31,053 shares in the company, valued at $1,845,479.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman David J. Neithercut sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $58.18, for a total value of $1,454,500.00. Following the sale, the chairman now directly owns 3,392 shares of the company’s stock, valued at $197,346.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the completion of the sale, the chief operating officer now directly owns 31,053 shares in the company, valued at $1,845,479.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,688 shares of company stock worth $1,554,818. Company insiders own 1.69% of the company’s stock.

About Equity Residential

(Free Report)

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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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