Prestige Wealth Management Group LLC Has $336,000 Stock Holdings in Equity Residential (NYSE:EQR)

Prestige Wealth Management Group LLC grew its holdings in shares of Equity Residential (NYSE:EQR) by 6.4% during the fourth quarter, Holdings Channel reports. The firm owned 4,686 shares of the real estate investment trust’s stock after purchasing an additional 283 shares during the period. Prestige Wealth Management Group LLC’s holdings in Equity Residential were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. LPL Financial LLC lifted its stake in shares of Equity Residential by 5.9% in the fourth quarter. LPL Financial LLC now owns 60,899 shares of the real estate investment trust’s stock valued at $4,370,000 after buying an additional 3,392 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Equity Residential in the 4th quarter valued at $17,897,000. Mizuho Securities USA LLC raised its stake in shares of Equity Residential by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 32,359 shares of the real estate investment trust’s stock valued at $2,322,000 after buying an additional 10,235 shares in the last quarter. Summit Global Investments bought a new position in shares of Equity Residential during the 4th quarter worth about $714,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Equity Residential by 39.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 195,479 shares of the real estate investment trust’s stock valued at $14,028,000 after acquiring an additional 55,129 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EQR shares. Stifel Nicolaus set a $82.25 target price on Equity Residential in a research report on Tuesday, February 4th. Mizuho dropped their target price on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Truist Financial boosted their price target on shares of Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Scotiabank raised their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Equity Residential currently has an average rating of “Hold” and an average target price of $78.51.

Equity Residential Price Performance

EQR opened at $71.40 on Tuesday. 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 $27.11 billion, a P/E ratio of 26.25, a PEG ratio of 3.99 and a beta of 0.91. The stock has a 50-day moving average price of $70.83 and a 200-day moving average price of $72.59. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.84.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.6925 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a yield of 3.88%. Equity Residential’s dividend payout ratio is currently 101.84%.

Insider Buying and Selling

In other news, CAO Ian Kaufman sold 642 shares of the firm’s 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 $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Garechana sold 4,294 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 $309,425.64. Following the transaction, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at approximately $1,016,622.48. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock worth $1,424,217 in the last ninety days. 1.00% of the stock is owned by insiders.

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.