Wynn Capital LLC Purchases Shares of 4,688 Equity Residential (NYSE:EQR)

Wynn Capital LLC bought a new stake in Equity Residential (NYSE:EQR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,688 shares of the real estate investment trust’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cornercap Investment Counsel Inc. boosted its stake in shares of Equity Residential by 2.6% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 185 shares in the last quarter. Czech National Bank lifted its position in Equity Residential by 0.4% during the 4th quarter. Czech National Bank now owns 60,520 shares of the real estate investment trust’s stock valued at $3,701,000 after purchasing an additional 236 shares during the period. Covestor Ltd lifted its position in Equity Residential by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,626 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 240 shares during the period. Allworth Financial LP lifted its position in Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Finally, Baldwin Brothers LLC MA lifted its position in Equity Residential by 34.1% during the 4th quarter. Baldwin Brothers LLC MA now owns 1,145 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 291 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analysts Set New Price Targets

EQR has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $62.00 price target on shares of Equity Residential in a research note on Tuesday, March 26th. Barclays lowered their price target on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Morgan Stanley increased their target price on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada increased their target price on Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.75.

Equity Residential Stock Performance

EQR stock traded up $1.52 during trading hours on Wednesday, hitting $64.61. 3,166,209 shares of the stock were exchanged, compared to its average volume of 2,087,544. 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 capitalization of $24.48 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.63 and a beta of 0.84. The company has a 50-day simple moving average of $61.68 and a two-hundred day simple moving average of $59.74. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.45.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $730.80 million during the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. Equity Residential’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, analysts forecast that Equity Residential will post 3.86 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Friday, March 22nd. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s payout ratio is 122.73%.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the business’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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the business’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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares of the company’s stock, valued at approximately $1,209,927.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,280 shares of company stock valued at $192,335. 1.00% of the stock is currently 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.