Sawtooth Solutions LLC Takes $352,000 Position in Equity Residential (NYSE:EQR)

Sawtooth Solutions LLC bought a new stake in shares of Equity Residential (NYSE:EQR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,356 shares of the real estate investment trust’s stock, valued at approximately $352,000.

Several other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in Equity Residential in the 2nd quarter worth about $28,000. Parkside Financial Bank & Trust increased its holdings in Equity Residential by 144.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 503 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 297 shares during the last quarter. West Branch Capital LLC purchased a new stake in Equity Residential in the 2nd quarter worth about $46,000. Muzinich & Co. Inc. purchased a new stake in Equity Residential in the 2nd quarter worth about $53,000. Finally, Financial Management Professionals Inc. increased its holdings in Equity Residential by 23.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 1,206 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 226 shares during the last quarter. 83.09% of the stock is owned by hedge funds and other institutional investors.

Shares of EQR opened at $90.83 on Friday. The company has a market cap of $34.06 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 6.49 and a beta of 0.80. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $87.84 and a 200-day moving average price of $84.68. Equity Residential has a 12-month low of $59.88 and a 12-month high of $93.03.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, October 26th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.40. The company had revenue of $623.21 million during the quarter, compared to the consensus estimate of $607.14 million. Equity Residential had a return on equity of 9.92% and a net margin of 43.53%. Equity Residential’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. As a group, analysts predict that Equity Residential will post 2.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Monday, January 3rd were given a $0.6025 dividend. The ex-dividend date of this dividend was Friday, December 31st. This represents a $2.41 dividend on an annualized basis and a yield of 2.65%. Equity Residential’s payout ratio is 85.46%.

Several brokerages recently weighed in on EQR. Citigroup lifted their price objective on Equity Residential from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday, December 13th. Truist raised their target price on Equity Residential from $86.00 to $89.00 and gave the stock a “hold” rating in a research note on Monday, December 6th. Stifel Nicolaus started coverage on Equity Residential in a research note on Tuesday, December 7th. They issued a “hold” rating and a $93.00 target price for the company. The Goldman Sachs Group started coverage on Equity Residential in a research note on Thursday, September 23rd. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, December 9th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.84.

In related news, Director David J. Neithercut sold 67,941 shares of the business’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $88.00, for a total value of $5,978,808.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Neithercut sold 39,674 shares of Equity Residential stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $88.00, for a total value of $3,491,312.00. The disclosure for this sale can be found here. Insiders sold a total of 167,641 shares of company stock valued at $14,729,008 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

About Equity Residential

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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