Lenox Wealth Management Inc. Has $287,000 Position in Equity Residential (NYSE:EQR)

Lenox Wealth Management Inc. increased its holdings in shares of Equity Residential (NYSE:EQR) by 1,837.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,313 shares of the real estate investment trust’s stock after acquiring an additional 3,142 shares during the period. Lenox Wealth Management Inc.’s holdings in Equity Residential were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EQR. NEXT Financial Group Inc acquired a new stake in shares of Equity Residential during the 2nd quarter valued at about $34,000. Cutler Group LP boosted its position in shares of Equity Residential by 105.0% during the 3rd quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 8,767 shares in the last quarter. Trustcore Financial Services LLC bought a new position in Equity Residential during the 2nd quarter valued at about $40,000. LLBH Private Wealth Management LLC bought a new position in Equity Residential during the 2nd quarter valued at about $51,000. Finally, CSat Investment Advisory L.P. lifted its holdings in Equity Residential by 362.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 522 shares during the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.

Shares of NYSE EQR traded down $0.09 during trading on Friday, reaching $83.98. The company had a trading volume of 966,498 shares, compared to its average volume of 1,406,390. Equity Residential has a 52 week low of $63.17 and a 52 week high of $89.55. The stock has a market cap of $31.49 billion, a PE ratio of 25.84, a PEG ratio of 4.05 and a beta of 0.44. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.13 and a current ratio of 0.13. The business’s 50 day moving average price is $87.04 and its 200-day moving average price is $81.07.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.17). Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. The company had revenue of $685.15 million during the quarter, compared to the consensus estimate of $679.66 million. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Equity Residential will post 3.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.5675 dividend. The ex-dividend date was Friday, September 27th. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.70%. Equity Residential’s payout ratio is currently 69.85%.

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Several brokerages recently issued reports on EQR. Morgan Stanley lifted their price target on shares of Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Goldman Sachs Group began coverage on shares of Equity Residential in a report on Friday. They set a “sell” rating and a $86.00 price target for the company. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, August 12th. Barclays reissued a “hold” rating and set a $87.00 price target on shares of Equity Residential in a report on Sunday, October 13th. Finally, SunTrust Banks set a $82.00 price target on shares of Equity Residential and gave the company a “hold” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $82.16.

In related news, Director David J. Neithercut sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $83.00, for a total transaction of $4,150,000.00. Following the completion of the sale, the director now directly owns 3,392 shares of the company’s stock, valued at $281,536. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael L. Manelis sold 8,672 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.00, for a total transaction of $711,104.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,945 shares of company stock valued at $8,882,681. Insiders own 3.75% of the company’s stock.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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