Naviter Wealth LLC Sells 1,203 Shares of Equity Residential (NYSE:EQR)

Naviter Wealth LLC trimmed its position in shares of Equity Residential (NYSE:EQR) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,872 shares of the real estate investment trust’s stock after selling 1,203 shares during the quarter. Naviter Wealth LLC’s holdings in Equity Residential were worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Equity Residential by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after acquiring an additional 372,181 shares during the last quarter. Northern Trust Corp increased its holdings in Equity Residential by 1.8% in the third quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust’s stock valued at $320,386,000 after purchasing an additional 94,511 shares during the period. Canada Pension Plan Investment Board raised its position in Equity Residential by 13.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust’s stock worth $305,659,000 after purchasing an additional 629,813 shares during the last quarter. FMR LLC lifted its holdings in Equity Residential by 68.5% during the 3rd quarter. FMR LLC now owns 4,416,565 shares of the real estate investment trust’s stock worth $259,297,000 after buying an additional 1,795,772 shares during the period. Finally, Morgan Stanley increased its stake in shares of Equity Residential by 5.2% in the third quarter. Morgan Stanley now owns 4,136,866 shares of the real estate investment trust’s stock valued at $242,876,000 after buying an additional 203,470 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

EQR has been the topic of a number of recent analyst reports. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays dropped their target price on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Wedbush reiterated a “neutral” rating and set a $68.00 price target on shares of Equity Residential in a report on Monday. Finally, Mizuho dropped their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.04.

Equity Residential Trading Up 0.2 %

Shares of EQR opened at $65.30 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.30 and a current ratio of 0.23. The firm has a market cap of $24.74 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 3.78 and a beta of 0.84. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The business has a 50-day moving average of $62.10 and a 200 day moving average of $59.87.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million during the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. Equity Residential’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. As a group, research analysts forecast that Equity Residential will post 3.85 EPS for the current year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were issued a dividend of $0.675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a yield of 4.13%. Equity Residential’s dividend payout ratio is 112.03%.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Ian Kaufman sold 716 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $41,384.80. Following the transaction, the chief accounting officer now owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Garechana sold 876 shares of Equity Residential 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 in the company, valued at $1,209,927.40. The disclosure for this sale can be found here. Insiders sold a total of 3,280 shares of company stock worth $192,335 in the last quarter. 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.