Equity Residential (NYSE:EQR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in Equity Residential (NYSE:EQR) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,207 shares of the real estate investment trust’s stock after selling 1,620 shares during the quarter. Mackenzie Financial Corp’s holdings in Equity Residential were worth $3,010,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CWM LLC boosted its holdings in Equity Residential by 14.5% in the 3rd quarter. CWM LLC now owns 3,566 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 452 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Equity Residential by 18.9% in the third quarter. Arkadios Wealth Advisors now owns 4,517 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 719 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of Equity Residential in the third quarter worth approximately $210,000. Oak Thistle LLC increased its position in shares of Equity Residential by 192.9% during the third quarter. Oak Thistle LLC now owns 26,053 shares of the real estate investment trust’s stock worth $1,530,000 after purchasing an additional 17,159 shares in the last quarter. Finally, Czech National Bank raised its stake in Equity Residential by 49.3% in the 3rd quarter. Czech National Bank now owns 60,284 shares of the real estate investment trust’s stock valued at $3,539,000 after purchasing an additional 19,915 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EQR. Barclays dropped their target price 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. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $70.00 in a report on Monday. Mizuho lowered their target price on Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada increased their price target on Equity Residential from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $65.75.

Equity Residential Stock Up 1.6 %

Shares of EQR opened at $62.54 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $23.70 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 3.57 and a beta of 0.84. The company’s 50-day moving average price is $61.58 and its 200 day moving average price is $59.71. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.45.

Equity Residential (NYSE:EQR) last released its quarterly earnings results 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 company had revenue of $727.50 million during the quarter, compared to analysts’ expectations of $725.07 million. Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. Equity Residential’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. On average, sell-side analysts forecast that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Insider Activity

In related news, CAO Ian Kaufman sold 716 shares of the 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 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 filing with the SEC, which is available through this hyperlink. In related news, COO Michael L. Manelis sold 1,639 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the sale, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ian Kaufman sold 716 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,280 shares of company stock valued at $192,335. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Company 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.