Equity Residential (NYSE:EQR) Holdings Trimmed by Truist Financial Corp

Truist Financial Corp lowered its holdings in Equity Residential (NYSE:EQRFree Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,154 shares of the real estate investment trust’s stock after selling 750 shares during the period. Truist Financial Corp’s holdings in Equity Residential were worth $743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. TAP Consulting LLC boosted its position in Equity Residential by 1.5% during the 4th quarter. TAP Consulting LLC now owns 47,342 shares of the real estate investment trust’s stock worth $2,895,000 after acquiring an additional 692 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Equity Residential by 5.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,026 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 475 shares during the period. Wynn Capital LLC purchased a new stake in Equity Residential in the 4th quarter worth approximately $287,000. Wolverine Asset Management LLC purchased a new position in shares of Equity Residential during the 4th quarter valued at $1,026,000. Finally, GAMMA Investing LLC acquired a new position in shares of Equity Residential in the fourth quarter worth $208,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at $636,465.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction on Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now owns 9,720 shares in the company, valued at $636,465.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander Brackenridge sold 4,027 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Trading Up 0.3 %

Shares of Equity Residential stock opened at $67.57 on Thursday. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.54 and a beta of 0.82. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The company’s fifty day simple moving average is $63.32 and its 200-day simple moving average is $60.53. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQRGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. As a group, sell-side analysts expect that Equity Residential will post 3.87 EPS for the current year.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were issued a $0.675 dividend. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 annualized dividend and a yield of 4.00%. Equity Residential’s dividend payout ratio is 112.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho lowered their target price 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. BMO Capital Markets raised shares of Equity Residential from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $68.00 to $70.00 in a research report on Monday, April 22nd. Truist Financial decreased their target price on shares of Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Evercore ISI downgraded shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price target on the stock. in a report on Monday. Finally, Wedbush reiterated a “neutral” rating and issued a $68.00 price objective on shares of Equity Residential in a report on Monday, April 29th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus price target of $68.22.

View Our Latest Research Report on EQR

About Equity Residential

(Free Report)

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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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