Equity Residential (NYSE:EQR) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in Equity Residential (NYSE:EQR) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,036 shares of the real estate investment trust’s stock after selling 705 shares during the period. Janney Montgomery Scott LLC’s holdings in Equity Residential were worth $289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust’s stock worth $34,714,000 after acquiring an additional 263,622 shares in the last quarter. Keybank National Association OH lifted its position in Equity Residential by 2.0% during the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust’s stock worth $502,000 after acquiring an additional 139 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Equity Residential by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,210,383 shares of the real estate investment trust’s stock worth $302,137,000 after acquiring an additional 136,275 shares in the last quarter. Starwood Capital Group Management L.L.C. lifted its position in Equity Residential by 26.2% during the 4th quarter. Starwood Capital Group Management L.L.C. now owns 339,338 shares of the real estate investment trust’s stock worth $24,351,000 after acquiring an additional 70,500 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Equity Residential during the 4th quarter worth approximately $13,921,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQR has been the topic of several recent research reports. Wedbush reissued a “neutral” rating and set a $75.00 price target on shares of Equity Residential in a research report on Wednesday, May 28th. Truist Financial upped their target price on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Barclays upped their target price on Equity Residential from $79.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Scotiabank cut their target price on Equity Residential from $82.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Friday, June 13th. Finally, Royal Bank Of Canada upped their target price on Equity Residential from $75.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.25.

Equity Residential Price Performance

Shares of NYSE EQR opened at $66.31 on Friday. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.84. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.90 and a beta of 0.88. The business has a 50 day simple moving average of $69.10 and a 200-day simple moving average of $69.60.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $760.81 million during the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. As a group, equities research analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.6925 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a yield of 4.18%. Equity Residential’s payout ratio is currently 105.73%.

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.