Wealth Alliance Buys 1,195 Shares of Equity Residential (NYSE:EQR)

Wealth Alliance increased its holdings in Equity Residential (NYSE:EQR) by 18.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,660 shares of the real estate investment trust’s stock after buying an additional 1,195 shares during the period. Wealth Alliance’s holdings in Equity Residential were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of EQR. Fidelis Capital Partners LLC purchased a new stake in shares of Equity Residential during the first quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Equity Residential during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Equity Residential by 41.9% during 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 buying an additional 155 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Equity Residential during the first quarter valued at $41,000. Institutional investors own 92.68% of the company’s stock.

Insider Activity at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Equity Residential Stock Down 0.3 %

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

Equity Residential (NYSE:EQR) last released its quarterly earnings results 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). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be paid 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 is presently 112.03%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQR. Evercore ISI boosted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday. BNP Paribas assumed coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. UBS Group upped their price target on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Piper Sandler upped their price target on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $75.62.

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.