Lindbrook Capital LLC Has $44,000 Stock Position in Equity Residential (NYSE:EQR)

Lindbrook Capital LLC lifted its stake in shares of Equity Residential (NYSE:EQR) by 144.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 716 shares of the real estate investment trust’s stock after acquiring an additional 423 shares during the period. Lindbrook Capital LLC’s holdings in Equity Residential were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Equity Residential by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after purchasing an additional 372,181 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Equity Residential by 1.8% during the third quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust’s stock worth $320,386,000 after buying an additional 94,511 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Equity Residential by 13.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust’s stock valued at $305,659,000 after buying an additional 629,813 shares during the last quarter. FMR LLC lifted its stake in Equity Residential by 68.5% in the 3rd quarter. FMR LLC now owns 4,416,565 shares of the real estate investment trust’s stock valued at $259,297,000 after acquiring an additional 1,795,772 shares in the last quarter. Finally, Morgan Stanley boosted its position in Equity Residential by 5.2% during the 3rd quarter. Morgan Stanley now owns 4,136,866 shares of the real estate investment trust’s stock worth $242,876,000 after acquiring an additional 203,470 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQR has been the topic of a number of recent research reports. Barclays lowered their price objective on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Morgan Stanley boosted their price target on shares of Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 target price on shares of Equity Residential in a report on Thursday, February 22nd. Piper Sandler reissued a “neutral” rating and issued a $62.00 price objective on shares of Equity Residential in a report on Tuesday, March 26th. Finally, Royal Bank of Canada boosted their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $66.04.

Equity Residential Stock Performance

Shares of EQR stock opened at $64.90 on Friday. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.66 and a beta of 0.84. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $61.89 and its 200-day moving average price is $59.81. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.45.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $730.80 million during the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.19%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. Equities research analysts forecast that Equity Residential will post 3.86 EPS for the current year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Insider Buying and Selling

In other Equity Residential news, COO Michael L. Manelis sold 1,639 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the transaction, the chief operating officer now owns 31,053 shares in the company, valued at approximately $1,845,479.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $50,632.80. Following the sale, the chief financial officer now owns 20,933 shares in the company, valued at approximately $1,209,927.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the completion of the sale, the chief operating officer now owns 31,053 shares of the company’s stock, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock valued at $192,335 over the last ninety days. 1.00% of the stock is owned by company 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.