abrdn plc Buys 28,486 Shares of Equity Residential (NYSE:EQR)

abrdn plc raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,083 shares of the real estate investment trust's stock after purchasing an additional 28,486 shares during the period. abrdn plc owned 0.07% of Equity Residential worth $18,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in Equity Residential by 25.3% in the fourth quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 146 shares during the period. Tobam lifted its position in shares of Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust's stock worth $143,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. boosted its stake in shares of Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 200 shares during the period. Finally, Modera Wealth Management LLC lifted its holdings in Equity Residential by 6.5% in the third quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust's stock worth $244,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EQR shares. Barclays decreased their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank of Canada lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Evercore ISI upped their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday. Finally, Mizuho lowered their target price on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $78.36.

Equity Residential Price Performance

NYSE EQR opened at $70.90 on Tuesday. The stock has a market cap of $26.90 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 4.49 and a beta of 0.93. Equity Residential has a 12 month low of $57.33 and a 12 month high of $78.83. The company's 50 day moving average is $70.92 and its two-hundred day moving average is $72.73. The company has a current ratio of 0.36, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential's dividend payout ratio is currently 99.26%.

Insiders Place Their Bets

In other news, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now owns 25,539 shares of the company's stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Garechana sold 4,294 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the transaction, the chief financial officer now directly owns 14,108 shares of the company's stock, valued at $1,016,622.48. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,763 shares of company stock worth $1,424,217. Corporate insiders own 1.00% of the company's stock.

Equity Residential Company 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.