Inspire Investing LLC Sells 10,460 Shares of Equity Residential (NYSE:EQR)

Inspire Investing LLC decreased its holdings in Equity Residential (NYSE:EQR) by 21.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,128 shares of the real estate investment trust’s stock after selling 10,460 shares during the period. Inspire Investing LLC’s holdings in Equity Residential were worth $2,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EQR. Elo Mutual Pension Insurance Co lifted its holdings in Equity Residential by 1.8% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 33,399 shares of the real estate investment trust’s stock worth $2,316,000 after buying an additional 588 shares during the period. Waterloo Capital L.P. bought a new stake in Equity Residential during the 2nd quarter worth approximately $429,000. Vanguard Personalized Indexing Management LLC increased its holdings in Equity Residential by 41.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,185 shares of the real estate investment trust’s stock worth $1,815,000 after purchasing an additional 7,669 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Equity Residential by 21.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 81,026 shares of the real estate investment trust’s stock valued at $5,618,000 after acquiring an additional 14,267 shares in the last quarter. Finally, Wealth Alliance grew its holdings in shares of Equity Residential by 18.5% in the second quarter. Wealth Alliance now owns 7,660 shares of the real estate investment trust’s stock valued at $531,000 after acquiring an additional 1,195 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Down 0.3 %

Shares of EQR stock opened at $77.08 on Thursday. The stock has a 50 day moving average of $72.34 and a 200 day moving average of $67.45. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock has a market cap of $29.26 billion, a P/E ratio of 31.98, a P/E/G ratio of 4.27 and a beta of 0.89. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.49). The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts expect that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.50%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQR. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Truist Financial increased their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Mizuho increased their target price on Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Finally, Evercore ISI raised their price objective on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $75.62.

Insiders Place Their Bets

In related news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the sale, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company 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.