Twin Capital Management Inc. Has $1.52 Million Stock Position in Equity Residential (NYSE:EQR)

Twin Capital Management Inc. cut its holdings in shares of Equity Residential (NYSE:EQR) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,867 shares of the real estate investment trust’s stock after selling 213 shares during the quarter. Twin Capital Management Inc.’s holdings in Equity Residential were worth $1,521,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Cornercap Investment Counsel Inc. raised its stake in shares of 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 purchasing an additional 185 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of Equity Residential by 3.5% during the 3rd quarter. First Affirmative Financial Network now owns 6,194 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 210 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in shares of Equity Residential by 0.9% during the 1st quarter. United Capital Financial Advisers LLC now owns 22,740 shares of the real estate investment trust’s stock worth $2,045,000 after purchasing an additional 212 shares in the last quarter. Kinneret Advisory LLC raised its stake in shares of Equity Residential by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 9,989 shares of the real estate investment trust’s stock worth $904,000 after purchasing an additional 223 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Equity Residential by 17.4% during the 1st quarter. Advisory Services Network LLC now owns 1,529 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 227 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $60.99 on Friday. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The firm has a market capitalization of $23.11 billion, a PE ratio of 27.72, a PEG ratio of 3.50 and a beta of 0.84. The business’s 50 day moving average is $61.46 and its 200-day moving average is $59.63. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.66.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.18). Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The firm had revenue of $727.50 million for the quarter, compared to analyst estimates of $725.07 million. During the same period in the previous year, the business posted $0.94 EPS. Equity Residential’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio (DPR) is presently 122.73%.

Insider Activity at Equity Residential

In related news, CAO Ian Kaufman sold 716 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the sale, the chief accounting officer now owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the sale, the chief financial officer now owns 20,933 shares of the company’s stock, valued at approximately $1,209,927.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value 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 approximately $1,384,252.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock valued at $192,335 in the last 90 days. 1.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQR has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $62.00 price objective on shares of Equity Residential in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity Residential in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective on the stock. Mizuho cut their price objective 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. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Finally, Truist Financial cut their price objective on Equity Residential from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.32.

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.