Allworth Financial LP Has $30,000 Stake in Equity Residential (NYSE:EQR)

Allworth Financial LP grew its holdings in Equity Residential (NYSE:EQR) by 120.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 488 shares of the real estate investment trust’s stock after acquiring an additional 267 shares during the period. Allworth Financial LP’s holdings in Equity Residential were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Equity Residential by 39.3% in the third quarter. Envestnet Asset Management Inc. now owns 234,022 shares of the real estate investment trust’s stock worth $13,739,000 after acquiring an additional 65,982 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Equity Residential during the 4th quarter worth $1,110,000. Wellington Management Group LLP raised its position in shares of Equity Residential by 61.9% during the 3rd quarter. Wellington Management Group LLP now owns 64,809 shares of the real estate investment trust’s stock valued at $3,805,000 after acquiring an additional 24,787 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Equity Residential by 128.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,372 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 6,400 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Equity Residential by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 743,250 shares of the real estate investment trust’s stock worth $43,636,000 after purchasing an additional 82,773 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Mizuho cut their price target on shares of Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Barclays decreased their price objective on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada increased their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $62.00 price target on shares of Equity Residential in a report on Tuesday, March 26th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.32.

Equity Residential Stock Performance

EQR opened at $61.69 on Monday. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 3.58 and a beta of 0.84. The business’s 50-day moving average price is $61.34 and its two-hundred day moving average price is $59.59. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.30 and a quick ratio of 0.30.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). The firm had revenue of $727.50 million for the quarter, compared to the consensus estimate of $725.07 million. Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Equities analysts expect that Equity Residential will post 3.86 EPS for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s payout ratio is currently 122.73%.

Insider Transactions at Equity Residential

In related 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 owns 23,949 shares of the company’s stock, valued at $1,384,252.20. The transaction 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 company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $41,384.80. Following the sale, the chief accounting officer now owns 23,949 shares in the company, valued at $1,384,252.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Garechana sold 876 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 owns 20,933 shares of the company’s stock, valued at $1,209,927.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock valued at $192,335 over the last 90 days. 1.69% of the stock is owned by corporate insiders.

About Equity Residential

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.