Mission Wealth Management LP Acquires New Holdings in Equity Residential (NYSE:EQR)

Mission Wealth Management LP acquired a new stake in Equity Residential (NYSE:EQR) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,475 shares of the real estate investment trust’s stock, valued at approximately $321,000.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EQR. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Evercore ISI raised their price target 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. Barclays dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company decreased 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 report on Friday, January 24th. Finally, Scotiabank increased their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.46.

Insiders Place Their Bets

In other news, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction dated 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 in the company, valued at $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Over the last ninety days, 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 0.4 %

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 stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.99 and a beta of 0.93. The firm has a fifty day simple moving average of $70.74 and a two-hundred day simple moving average of $72.93. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.83.

Equity Residential Announces Dividend

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

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.