18,152 Shares in Equity Residential (NYSE:EQR) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new stake in Equity Residential (NYSE:EQR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 18,152 shares of the real estate investment trust's stock, valued at approximately $1,110,000.

A number of other hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc purchased a new position in Equity Residential during the 4th quarter worth $34,000. Blue Trust Inc. grew its position in Equity Residential by 376.2% during the 4th quarter. Blue Trust Inc. now owns 881 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 696 shares during the last quarter. Planned Solutions Inc. purchased a new position in Equity Residential during the 4th quarter worth $61,000. Kingswood Wealth Advisors LLC purchased a new position in Equity Residential during the 4th quarter worth $961,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Equity Residential by 6.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,596 shares of the real estate investment trust's stock worth $770,000 after purchasing an additional 709 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQR has been the topic of several research reports. Barclays lowered their price objective on shares of Equity Residential from $69.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 20th. Mizuho lowered their target price on shares of Equity Residential from $62.00 to $61.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $70.00 target price on shares of Equity Residential in a report on Thursday, February 22nd. Morgan Stanley lifted their target price on shares of Equity Residential from $58.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $62.00 target price on shares of Equity Residential in a report on Tuesday, March 26th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $66.04.

Equity Residential Trading Down 1.0 %

Shares of NYSE:EQR traded down $0.60 during trading on Tuesday, reaching $60.85. The stock had a trading volume of 1,515,222 shares, compared to its average volume of 2,123,489. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The business has a fifty day moving average price of $60.84 and a 200-day moving average price of $59.50. The stock has a market cap of $23.10 billion, a P/E ratio of 27.65, a PEG ratio of 3.70 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66.

Equity Residential (NYSE:EQR - Get Free Report) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The company had revenue of $727.50 million during the quarter, compared to analysts' expectations of $725.07 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equity Residential's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that Equity Residential will post 3.81 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Monday, March 25th will be paid a dividend of $0.675 per share. This is an increase from Equity Residential's previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, March 22nd. Equity Residential's payout ratio is currently 122.73%.

Insiders Place Their Bets

In other Equity Residential news, COO Michael L. Manelis sold 1,639 shares of the business's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the sale, the chief operating officer now directly owns 31,053 shares in the company, valued at $1,845,479.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Michael L. Manelis sold 1,639 shares of the business's stock in a transaction on Monday, February 5th. The shares were 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 $1,845,479.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Garechana sold 876 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 $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares in the company, valued at $1,209,927.40. The disclosure for this sale can be found here. Insiders sold a total of 3,280 shares of company stock worth $192,335 over the last ninety days. 1.69% of the stock is 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.