MGO One Seven LLC Buys Shares of 3,672 Equity Residential (NYSE:EQR)

MGO One Seven LLC purchased a new stake in shares of Equity Residential (NYSE:EQR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,672 shares of the real estate investment trust’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. increased its position in shares of Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential in the third quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC grew its stake in shares of Equity Residential by 109.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 288 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 156 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in shares of Equity Residential by 208.1% during the fourth quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Up 0.3 %

Shares of NYSE EQR opened at $69.51 on Wednesday. Equity Residential has a 12-month low of $59.41 and a 12-month high of $78.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50-day moving average is $69.44 and its two-hundred day moving average is $71.22. The company has a market capitalization of $26.40 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.99 and a beta of 0.85.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a net margin of 34.76% and a return on equity of 9.27%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Equities analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were issued a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Monday, March 31st. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio (DPR) is 101.84%.

Analysts Set New Price Targets

EQR has been the subject of several analyst reports. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a report on Tuesday, February 4th. Scotiabank boosted their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Truist Financial upped their target price on shares of Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Mizuho reduced their price objective 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. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average price target of $79.01.

Insider Buying and Selling

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