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

Twin Capital Management Inc. trimmed its holdings in Equity Residential (NYSE:EQR) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,867 shares of the real estate investment trust’s stock after selling 213 shares during the period. Twin Capital Management Inc.’s holdings in Equity Residential were worth $1,521,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. lifted its position in shares of Equity Residential by 593.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Equity Residential during the 4th quarter worth approximately $28,000. Money Concepts Capital Corp acquired a new stake in Equity Residential during the 4th quarter worth approximately $29,000. Allworth Financial LP lifted its holdings in Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Equity Residential by 229.8% during the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 386 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EQR shares. Truist Financial dropped their price target on Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Piper Sandler reissued a “neutral” rating and set a $62.00 price target on shares of Equity Residential in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Mizuho dropped their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley lifted their price objective on Equity Residential from $58.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.32.

Insider Buying and Selling

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 transaction of $41,384.80. Following the sale, the chief accounting officer now owns 23,949 shares in the company, valued at approximately $1,384,252.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equity Residential news, COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the transaction, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares in the company, valued at $1,384,252.20. The disclosure for this sale can be found here. Insiders have sold 3,280 shares of company stock worth $192,335 in the last 90 days. Insiders own 1.69% of the company’s stock.

Equity Residential Trading Up 1.0 %

Shares of EQR opened at $60.99 on Friday. Equity Residential has a 52-week low of $52.57 and a 52-week high of $69.45. The business’s fifty day moving average is $61.46 and its 200-day moving average is $59.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.50 and a beta of 0.84.

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

Equity Residential Increases Dividend

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

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.