Carmel Capital Partners LLC Boosts Stock Position in Equity Residential (NYSE:EQR)

Carmel Capital Partners LLC raised its position in shares of Equity Residential (NYSE:EQR) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,627 shares of the real estate investment trust’s stock after purchasing an additional 298 shares during the quarter. Carmel Capital Partners LLC’s holdings in Equity Residential were worth $476,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EQR. SRS Capital Advisors Inc. boosted its stake in shares of Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential in the third quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the third quarter worth about $33,000. Assetmark Inc. boosted its stake in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new stake in shares of Equity Residential in the third quarter worth about $40,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the topic of a number of recent research reports. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Barclays lowered their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Scotiabank increased their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Finally, Evercore ISI increased their price target on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.46.

Insider Activity at Equity Residential

In related news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the completion of the transaction, the chief operating officer now directly owns 26,781 shares in the company, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Fenster sold 5,340 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the transaction, the executive vice president now owns 35,507 shares of the company’s stock, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by insiders.

Equity Residential Price Performance

NYSE:EQR opened at $73.74 on Thursday. Equity Residential has a one year low of $59.48 and a one year high of $78.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $28.00 billion, a PE ratio of 27.11, a P/E/G ratio of 3.99 and a beta of 0.93. The stock has a 50 day moving average price of $70.74 and a 200 day moving average price of $72.93.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a $0.675 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. Equity Residential’s dividend payout ratio is presently 99.26%.

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.