Oppenheimer & Co. Inc. Boosts Stock Position in Equity Residential (NYSE:EQR)

Oppenheimer & Co. Inc. boosted its holdings in shares of Equity Residential (NYSE:EQR) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,682 shares of the real estate investment trust’s stock after purchasing an additional 1,048 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Equity Residential were worth $1,771,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the 3rd quarter valued at about $29,000. Assetmark Inc. increased its stake in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Equity Residential during the third quarter valued at approximately $33,000. Continuum Advisory LLC bought a new stake in shares of Equity Residential in the 3rd quarter valued at approximately $40,000. Finally, Grove Bank & Trust boosted its holdings in shares of Equity Residential by 208.1% in the 4th quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 412 shares during the period. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR opened at $75.01 on Tuesday. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 3.99 and a beta of 0.93. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.83. The business’s fifty day simple moving average is $70.68 and its 200-day simple moving average is $72.91.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s payout ratio is 99.26%.

Wall Street Analyst Weigh In

EQR has been the subject of several recent analyst reports. Scotiabank lifted their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Barclays dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Mizuho decreased their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI upped their target price on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus price target of $78.46.

Insider Buying and Selling at Equity Residential

In other news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now directly owns 26,781 shares in the company, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Garechana sold 4,294 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 directly owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. Company insiders own 1.00% of the company’s stock.

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.