Mission Wealth Management LP Makes New Investment in Equity Residential (NYSE:EQR)

Mission Wealth Management LP purchased a new position in shares of Equity Residential (NYSE:EQR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,475 shares of the real estate investment trust’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in 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 buying an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Equity Residential during the 3rd quarter worth about $29,000. Assetmark Inc. raised its holdings in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the period. Brooklyn Investment Group bought a new stake in shares of Equity Residential in the 3rd quarter valued at about $33,000. Finally, Continuum Advisory LLC bought a new stake in shares of Equity Residential in the 3rd quarter valued at about $40,000. 92.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQR has been the topic of a number of research analyst reports. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Scotiabank upped their target price on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a report on Tuesday, February 4th. Wells Fargo & Company dropped their target price 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. Finally, Barclays dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.46.

Equity Residential Stock Performance

NYSE EQR opened at $73.74 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $28.00 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 3.99 and a beta of 0.93. The firm’s 50 day simple moving average is $70.74 and its 200 day simple moving average is $72.93. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.83.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were given a dividend of $0.675 per share. The ex-dividend date of this dividend 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 99.26%.

Insider Buying and Selling

In related news, CAO Ian Kaufman sold 642 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Fenster sold 5,340 shares of the 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 $384,800.40. Following the completion of the transaction, the executive vice president now directly owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,763 shares of company stock worth $1,424,217. Corporate insiders own 1.00% of the company’s stock.

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.