Sequoia Financial Advisors LLC Acquires 191 Shares of Equity Residential (NYSE:EQR)

Sequoia Financial Advisors LLC raised its holdings in Equity Residential (NYSE:EQR) by 6.3% in the first quarter, HoldingsChannel.com reports. The firm owned 3,246 shares of the real estate investment trust’s stock after purchasing an additional 191 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Equity Residential were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Perigon Wealth Management LLC boosted its holdings in Equity Residential by 1.1% in the 1st quarter. Perigon Wealth Management LLC now owns 81,272 shares of the real estate investment trust’s stock valued at $5,817,000 after purchasing an additional 857 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Equity Residential by 0.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 701,418 shares of the real estate investment trust’s stock worth $50,208,000 after acquiring an additional 4,878 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Equity Residential by 60.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,597 shares of the real estate investment trust’s stock worth $2,834,000 after acquiring an additional 14,915 shares during the period. Kentucky Retirement Systems lifted its holdings in shares of Equity Residential by 10.0% during the 1st quarter. Kentucky Retirement Systems now owns 25,786 shares of the real estate investment trust’s stock worth $1,846,000 after acquiring an additional 2,341 shares during the period. Finally, Consolidated Investment Group LLC bought a new stake in shares of Equity Residential during the 1st quarter worth approximately $1,646,000. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $66.31 on Friday. The company has a fifty day moving average price of $69.10 and a 200-day moving average price of $69.60. The company has a market capitalization of $25.19 billion, a P/E ratio of 25.31, a PEG ratio of 3.90 and a beta of 0.88. Equity Residential has a 52-week low of $59.41 and a 52-week high of $78.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20.

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

Equity Residential Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho cut their price target on shares of Equity Residential from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Truist Financial upped their price target on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Barclays upped their price target on shares of Equity Residential from $79.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wedbush reaffirmed a “neutral” rating and set a $75.00 price target on shares of Equity Residential in a report on Wednesday, May 28th. Finally, Stifel Nicolaus cut their price target on shares of Equity Residential from $82.25 to $80.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus target price of $79.25.

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.