Firethorn Wealth Partners LLC Sells 825 Shares of Equity Residential (NYSE:EQR)

Firethorn Wealth Partners LLC lessened its stake in Equity Residential (NYSE:EQR) by 21.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,082 shares of the real estate investment trust’s stock after selling 825 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Equity Residential were worth $229,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in Equity Residential in the 4th quarter worth $509,000. GAMMA Investing LLC lifted its holdings in shares of Equity Residential by 10.2% in the first quarter. GAMMA Investing LLC now owns 3,809 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 354 shares in the last quarter. Czech National Bank boosted its position in shares of Equity Residential by 0.3% during the first quarter. Czech National Bank now owns 60,730 shares of the real estate investment trust’s stock worth $3,833,000 after buying an additional 210 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Equity Residential by 34.5% during the first quarter. Park Avenue Securities LLC now owns 6,106 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 1,566 shares in the last quarter. Finally, Aurora Investment Managers LLC. grew its holdings in shares of Equity Residential by 22.6% during the first quarter. Aurora Investment Managers LLC. now owns 46,261 shares of the real estate investment trust’s stock worth $2,920,000 after buying an additional 8,520 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

NYSE EQR opened at $74.72 on Thursday. The stock has a market cap of $28.36 billion, a PE ratio of 31.00, a P/E/G ratio of 6.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The firm has a 50-day moving average of $74.12 and a 200-day moving average of $69.08. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.61%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Analysts Set New Price Targets

A number of research firms have weighed in on EQR. JPMorgan Chase & Co. upped their price target on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their target price on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Scotiabank raised their price target on Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $75.97.

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.