Lindbrook Capital LLC Increases Position in Equity Residential (NYSE:EQR)

Lindbrook Capital LLC boosted its holdings in shares of Equity Residential (NYSE:EQR) by 144.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 716 shares of the real estate investment trust’s stock after purchasing an additional 423 shares during the quarter. Lindbrook Capital LLC’s holdings in Equity Residential were worth $44,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new stake in Equity Residential in the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. raised its position in shares of Equity Residential by 593.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 392 shares during the last quarter. Allworth Financial LP lifted its stake in Equity Residential by 120.8% in the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in Equity Residential in the 4th quarter worth about $34,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in Equity Residential during the 3rd quarter worth approximately $40,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EQR. Mizuho decreased their target price on Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $62.00 price target on shares of Equity Residential in a research note on Tuesday, March 26th. Morgan Stanley boosted their price target on shares of Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $70.00 in a report on Monday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $70.00 target price on shares of Equity Residential in a report on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.04.

Equity Residential Trading Up 0.4 %

EQR opened at $64.90 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $24.59 billion, a P/E ratio of 26.93, a P/E/G ratio of 3.66 and a beta of 0.84. Equity Residential has a 52 week low of $52.57 and a 52 week high of $69.45. The business has a fifty day simple moving average of $61.89 and a 200-day simple moving average of $59.81.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a net margin of 31.70% and a return on equity of 8.19%. The company had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio is currently 112.03%.

Insider Buying and Selling

In other news, COO Michael L. Manelis sold 1,639 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the transaction, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at $1,845,479.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the completion of the transaction, the chief financial officer now directly owns 20,933 shares of the company’s stock, valued at $1,209,927.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the sale, the chief operating officer now owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The disclosure for this sale can be found here. Insiders sold 3,280 shares of company stock valued at $192,335 in the last three months. 1.00% of the stock is owned by corporate insiders.

Equity Residential 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.