Global Wealth Management Investment Advisory Inc. Has $889,000 Stake in Equity Residential (NYSE:EQR)

Global Wealth Management Investment Advisory Inc. lifted its position in Equity Residential (NYSE:EQR) by 15.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,414 shares of the real estate investment trust’s stock after buying an additional 1,646 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Equity Residential were worth $889,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EQR. US Bancorp DE grew its position in Equity Residential by 0.7% in the fourth quarter. US Bancorp DE now owns 31,433 shares of the real estate investment trust’s stock worth $2,256,000 after acquiring an additional 219 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Equity Residential by 38.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 156 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Equity Residential during the 4th quarter worth about $321,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $66.31 on Friday. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.89 and a beta of 0.88. Equity Residential has a one year low of $59.41 and a one year high of $78.84. The business has a fifty day simple moving average of $69.15 and a 200 day simple moving average of $69.65. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $760.81 million during the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Sell-side analysts expect that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be paid a $0.6925 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.18%. Equity Residential’s dividend payout ratio is currently 105.73%.

Wall Street Analyst Weigh In

EQR has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus lowered their target price on shares of Equity Residential from $82.25 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Wedbush reissued a “neutral” rating and set a $75.00 target price on shares of Equity Residential in a research report on Wednesday, May 28th. Scotiabank decreased their price target on shares of Equity Residential from $82.00 to $78.00 and set a “sector perform” rating for the company in a report on Friday, June 13th. Finally, Truist Financial lifted their price objective on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.25.

About Equity Residential

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.