Corient Private Wealth LLC Decreases Holdings in Equity Residential (NYSE:EQR)

Corient Private Wealth LLC cut its stake in Equity Residential (NYSE:EQR) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,342 shares of the real estate investment trust’s stock after selling 3,437 shares during the quarter. Corient Private Wealth LLC’s holdings in Equity Residential were worth $6,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQR. SRS Capital Advisors Inc. lifted its position in Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the third quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the third quarter worth $33,000. Continuum Advisory LLC purchased a new position in shares of Equity Residential in the third quarter valued at $40,000. Finally, Smartleaf Asset Management LLC grew its holdings 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 valued at $40,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQR shares. Wells Fargo & Company dropped their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Scotiabank boosted their price objective on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Barclays reduced their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a report on Tuesday, February 4th. Finally, 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 report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.51.

Insider Activity 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 value of $683,728.09. Following the completion of the sale, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This 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 can be accessed through this link. Also, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by corporate insiders.

Equity Residential Price Performance

NYSE EQR opened at $70.17 on Friday. 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 1 year low of $59.48 and a 1 year high of $78.84. The company has a market cap of $26.64 billion, a PE ratio of 25.80, a PEG ratio of 3.99 and a beta of 0.91. The stock’s 50-day moving average price is $70.74 and its two-hundred day moving average price is $72.69.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.95%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s payout ratio is currently 99.26%.

Equity Residential 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.