Glassman Wealth Services Has $27,000 Stock Position in Equity Residential (NYSE:EQR)

Glassman Wealth Services decreased its stake in shares of Equity Residential (NYSE:EQR) by 44.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436 shares of the real estate investment trust’s stock after selling 346 shares during the period. Glassman Wealth Services’ holdings in Equity Residential were worth $27,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. lifted its position in Equity Residential by 2.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 185 shares in the last quarter. Czech National Bank raised its holdings 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 worth $3,701,000 after purchasing an additional 236 shares during the last quarter. Covestor Ltd raised its holdings 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 worth $95,000 after purchasing an additional 240 shares during the last quarter. US Bancorp DE raised its holdings in Equity Residential by 0.4% during the 4th quarter. US Bancorp DE now owns 67,535 shares of the real estate investment trust’s stock worth $4,130,000 after purchasing an additional 251 shares during the last quarter. Finally, Allworth Financial LP raised its holdings 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 worth $30,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Activity

In other news, EVP Alexander Brackenridge sold 4,027 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the completion of the sale, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the sale, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.43, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,548 shares of company stock valued at $666,351. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

EQR has been the subject of several recent research reports. Mizuho dropped their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. BMO Capital Markets raised Equity Residential from a “market perform” rating to an “outperform” rating and upped their price target for the company from $68.00 to $70.00 in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Equity Residential in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Barclays lowered their target price 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. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.04.

Equity Residential Stock Up 2.4 %

NYSE:EQR traded up $1.52 during trading hours on Thursday, reaching $65.56. 2,437,070 shares of the stock were exchanged, compared to its average volume of 2,126,629. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.30. The firm has a 50 day moving average of $62.24 and a 200 day moving average of $59.93. The stock has a market cap of $24.88 billion, a PE ratio of 26.57, a PEG ratio of 3.41 and a beta of 0.82.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm 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 8.18% and a net margin of 31.70%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities analysts expect that Equity Residential will post 3.88 earnings per share for the current year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, March 22nd. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio is presently 112.03%.

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.