Naviter Wealth LLC Has $1.63 Million Stock Position in Equity Residential (NYSE:EQR)

Naviter Wealth LLC boosted its holdings in shares of Equity Residential (NYSE:EQR) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,521 shares of the real estate investment trust’s stock after buying an additional 1,048 shares during the quarter. Naviter Wealth LLC’s holdings in Equity Residential were worth $1,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EQR. Fidelis Capital Partners LLC bought a new position in shares of Equity Residential during the 1st quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new position in Equity Residential during the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Equity Residential by 41.9% in the second 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 during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Equity Residential in the first quarter valued at $41,000. Finally, Principal Securities Inc. bought a new position in shares of Equity Residential in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Equity Residential from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Scotiabank upped their target price on Equity Residential from $73.00 to $77.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wedbush increased their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Piper Sandler boosted their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.16.

Insider Buying and Selling at Equity Residential

In other news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the transaction, the chief financial officer now directly owns 14,576 shares in the company, valued at $1,006,910.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Equity Residential Price Performance

NYSE:EQR traded up $0.69 during mid-day trading on Tuesday, reaching $75.57. The stock had a trading volume of 240,706 shares, compared to its average volume of 1,918,865. Equity Residential has a 12 month low of $52.57 and a 12 month high of $75.62. The stock has a 50-day simple moving average of $70.34 and a two-hundred day simple moving average of $66.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market capitalization of $28.68 billion, a PE ratio of 31.07, a P/E/G ratio of 4.17 and a beta of 0.87.

Equity Residential (NYSE:EQR) last released its quarterly earnings data 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). The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 earnings per share. On average, equities analysts anticipate that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, July 1st. Equity Residential’s payout ratio is 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.