Xponance Inc. Lowers Holdings in Equity Residential (NYSE:EQR)

Posted by Defense World Staff on Sep 25th, 2023

Xponance Inc. lowered its position in Equity Residential (NYSE:EQR – Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,177 shares of the real estate investment trust’s stock after selling 834 shares during the quarter. Xponance Inc.’s holdings in Equity Residential were worth $2,980,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc. boosted its position in Equity Residential by 0.6% in the 1st quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Equity Residential by 28.3% in the first quarter. EverSource Wealth Advisors LLC now owns 879 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 194 shares during the period. Glassman Wealth Services raised its position in shares of Equity Residential by 41.6% in the first quarter. Glassman Wealth Services now owns 694 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 204 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Equity Residential by 2.5% during the 1st quarter. Moody National Bank Trust Division now owns 8,400 shares of the real estate investment trust’s stock worth $504,000 after acquiring an additional 206 shares in the last quarter. Finally, Firethorn Wealth Partners LLC grew its position in shares of Equity Residential by 5.9% during the 1st quarter. Firethorn Wealth Partners LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 210 shares during the period. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on EQR shares. Royal Bank of Canada increased their price target on Equity Residential from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Equity Residential from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, August 21st. Piper Sandler raised shares of Equity Residential from an “underweight” rating to a “neutral” rating and raised their price target for the company from $63.00 to $68.00 in a research note on Friday, June 9th. TheStreet upgraded Equity Residential from a “c+” rating to a “b-” rating in a research note on Monday, July 17th. Finally, Barclays decreased their target price on Equity Residential from $71.00 to $69.00 in a research report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.94.

Read Our Latest Stock Analysis on EQR

Equity Residential Stock Performance

Equity Residential stock opened at $60.13 on Monday. Equity Residential has a 1-year low of $54.60 and a 1-year high of $70.11. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.97 and a beta of 0.82. The firm has a 50 day simple moving average of $64.71 and a 200-day simple moving average of $63.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.19 and a quick ratio of 0.19.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, September 26th will be given a $0.6625 dividend. The ex-dividend date is Monday, September 25th. This represents a $2.65 dividend on an annualized basis and a yield of 4.41%. Equity Residential’s dividend payout ratio is currently 119.91%.

Insider Transactions at Equity Residential

In related news, COO Michael L. Manelis sold 2,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $66.04, for a total value of $165,100.00. Following the sale, the chief operating officer now directly owns 22,844 shares in the company, valued at approximately $1,508,617.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.69% of the company’s stock.

Equity Residential Company Profile

(Free Report)

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 304 properties consisting of 80,212 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.