Physician Wealth Advisors Inc. Invests $152,000 in Equity Residential (NYSE:EQR)

Physician Wealth Advisors Inc. purchased a new stake in Equity Residential (NYSE:EQR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,120 shares of the real estate investment trust’s stock, valued at approximately $152,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQR. SRS Capital Advisors Inc. increased its holdings in 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 valued at $26,000 after buying an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Equity Residential during the third quarter worth $29,000. Brooklyn Investment Group purchased a new stake in Equity Residential during the third quarter worth $33,000. Continuum Advisory LLC purchased a new stake in Equity Residential during the third quarter worth $40,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Equity Residential by 109.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analysts Set New Price Targets

EQR has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Barclays cut their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Truist Financial raised their price target on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.51.

Insider Transactions at Equity Residential

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

Equity Residential Trading Up 0.2 %

Shares of EQR opened at $71.38 on Monday. Equity Residential has a twelve month low of $59.48 and a twelve month high of $78.84. The firm has a market capitalization of $27.10 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. 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 stock’s fifty day simple moving average is $70.95 and its 200 day simple moving average is $72.47.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.6925 dividend. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, March 31st. Equity Residential’s payout ratio is currently 101.84%.

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.