Azzad Asset Management Inc. ADV Sells 11,498 Shares of Equity Residential (NYSE:EQR)

Azzad Asset Management Inc. ADV decreased its holdings in shares of Equity Residential (NYSE:EQR) by 27.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,219 shares of the real estate investment trust’s stock after selling 11,498 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Equity Residential were worth $1,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its stake in shares of Equity Residential by 593.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $28,000. Allworth Financial LP increased its stake in shares of Equity Residential by 120.8% during the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $33,000. Finally, AdvisorNet Financial Inc bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $34,000. Institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Down 1.0 %

Shares of EQR stock opened at $67.49 on Thursday. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.65. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $66.36 and its 200 day moving average is $62.98. The stock has a market capitalization of $25.62 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.92 and a beta of 0.87.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. Research analysts expect that Equity Residential will post 3.88 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, July 1st. Equity Residential’s dividend payout ratio is presently 112.03%.

Insider Transactions at Equity Residential

In other news, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the transaction, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction on Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the transaction, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. Insiders have sold 13,625 shares of company stock worth $913,158 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EQR shares. Scotiabank raised their price target on shares of Equity Residential from $65.00 to $72.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Wells Fargo & Company raised their price target on shares of Equity Residential from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. raised their price target on shares of Equity Residential from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Truist Financial raised their price target on shares of Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Mizuho raised their price target on shares of Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.09.

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.