Rossby Financial LCC Takes Position in Equity Residential (NYSE:EQR)

Rossby Financial LCC purchased a new position in shares of Equity Residential (NYSE:EQR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,500 shares of the real estate investment trust's stock, valued at approximately $395,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Equity Residential by 8.3% in the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock worth $576,737,000 after acquiring an additional 591,866 shares during the last quarter. HighTower Advisors LLC boosted its position in Equity Residential by 39.6% in the 3rd quarter. HighTower Advisors LLC now owns 16,795 shares of the real estate investment trust's stock valued at $1,245,000 after buying an additional 4,764 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Equity Residential by 69.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,752 shares of the real estate investment trust's stock valued at $1,573,000 after buying an additional 8,534 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential during the third quarter valued at $29,000. Finally, Tidal Investments LLC boosted its holdings in Equity Residential by 12.3% in the third quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust's stock valued at $9,625,000 after acquiring an additional 14,109 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Insider Transactions at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares in the company, valued at $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last three months. Company insiders own 1.00% of the company's stock.

Equity Residential Stock Up 1.7 %

Shares of NYSE:EQR traded up $1.11 during midday trading on Friday, reaching $68.16. 2,743,773 shares of the company were exchanged, compared to its average volume of 1,723,099. The firm has a market cap of $25.88 billion, a PE ratio of 25.06, a P/E/G ratio of 3.99 and a beta of 0.85. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84. The stock has a fifty day simple moving average of $69.83 and a two-hundred day simple moving average of $71.47. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were paid a $0.6925 dividend. This is an increase from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 4.06%. Equity Residential's dividend payout ratio (DPR) is currently 101.84%.

Wall Street Analysts Forecast Growth

EQR has been the subject of several recent research reports. Scotiabank boosted their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a report on Friday, February 14th. StockNews.com upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Mizuho reduced their price objective on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Barclays dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Wells Fargo & Company dropped their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.51.

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.