LVW Advisors LLC Boosts Stake in Equity Residential (NYSE:EQR)

LVW Advisors LLC boosted its stake in shares of Equity Residential (NYSE:EQR) by 67.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,156 shares of the real estate investment trust’s stock after buying an additional 2,486 shares during the period. LVW Advisors LLC’s holdings in Equity Residential were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. lifted its holdings in Equity Residential by 593.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 392 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Equity Residential during the 4th quarter valued at $28,000. Allworth Financial LP lifted its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of Equity Residential during the 4th quarter valued at $33,000. Finally, AdvisorNet Financial Inc purchased a new stake in shares of Equity Residential during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the transaction, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction that occurred 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 sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the sale, the executive vice president now directly owns 69,901 shares in the company, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. Insiders have sold 13,625 shares of company stock valued at $913,158 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Trading Up 1.5 %

EQR stock opened at $69.34 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average is $66.15 and its 200 day moving average is $62.89. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.65. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.98 and a beta of 0.87.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share 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 8.18%. The business had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. During the same period last year, the company posted $0.87 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Equity Residential will post 3.88 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Monday, July 1st. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Analyst Upgrades and Downgrades

EQR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Equity Residential from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Wells Fargo & Company raised their target price on Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Evercore ISI lowered Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 target price for the company. in a research note on Monday, May 13th. Truist Financial raised their target price on Equity Residential from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Morgan Stanley increased their price target on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.09.

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.