Global Wealth Management Investment Advisory Inc. Grows Stake in Equity Residential (NYSE:EQR)

Global Wealth Management Investment Advisory Inc. raised its stake in shares of Equity Residential (NYSE:EQR) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,768 shares of the real estate investment trust’s stock after purchasing an additional 1,214 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Equity Residential were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vert Asset Management LLC raised its holdings in Equity Residential by 7.5% during the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock valued at $10,782,000 after buying an additional 10,472 shares during the period. Benjamin Edwards Inc. bought a new position in Equity Residential during the third quarter valued at $923,000. Atomi Financial Group Inc. raised its stake in shares of Equity Residential by 8.3% in the fourth quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 284 shares during the period. Tidal Investments LLC lifted its holdings in shares of Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after acquiring an additional 14,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Equity Residential by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock worth $298,461,000 after purchasing an additional 124,795 shares during the period. 92.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Robert Garechana sold 4,294 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the sale, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at $1,016,622.48. The trade was a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock worth $1,424,217 in the last ninety days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EQR. Royal Bank of Canada reduced their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho decreased their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company cut their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Barclays decreased their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Scotiabank reduced their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.36.

Equity Residential Trading Down 1.1 %

Shares of NYSE EQR opened at $71.36 on Monday. The business has a fifty day moving average price of $70.92 and a 200 day moving average price of $72.72. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.13. The stock has a market capitalization of $27.08 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were given a $0.675 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.78%. Equity Residential’s payout ratio is 99.26%.

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.