Firethorn Wealth Partners LLC Has $229,000 Stock Position in Equity Residential (NYSE:EQR)

Firethorn Wealth Partners LLC cut its stake in Equity Residential (NYSE:EQR) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,082 shares of the real estate investment trust’s stock after selling 825 shares during the period. Firethorn Wealth Partners LLC’s holdings in Equity Residential were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in shares of Equity Residential in the 4th quarter valued at $509,000. GAMMA Investing LLC boosted its position in Equity Residential by 10.2% in the first quarter. GAMMA Investing LLC now owns 3,809 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 354 shares in the last quarter. Czech National Bank grew its stake in Equity Residential by 0.3% during the first quarter. Czech National Bank now owns 60,730 shares of the real estate investment trust’s stock worth $3,833,000 after buying an additional 210 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Equity Residential by 34.5% during the first quarter. Park Avenue Securities LLC now owns 6,106 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 1,566 shares in the last quarter. Finally, Aurora Investment Managers LLC. increased its holdings in shares of Equity Residential by 22.6% during the first quarter. Aurora Investment Managers LLC. now owns 46,261 shares of the real estate investment trust’s stock worth $2,920,000 after buying an additional 8,520 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on EQR shares. Evercore ISI increased their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Wedbush raised their target price on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. BNP Paribas started coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. Finally, Scotiabank raised their price objective on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.97.

Equity Residential Trading Up 1.0 %

NYSE:EQR opened at $74.72 on Thursday. The firm has a market capitalization of $28.36 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 6.05 and a beta of 0.89. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83. The business’s 50-day moving average price is $74.12 and its two-hundred day moving average price is $69.08. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.61%. Equity Residential’s dividend payout ratio is presently 112.03%.

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.