Allianz SE Acquires New Stake in Equity Residential (NYSE:EQR)

Allianz SE acquired a new position in Equity Residential (NYSE:EQR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,298 shares of the real estate investment trust's stock, valued at approximately $308,000.

Several other large investors also recently added to or reduced their stakes in EQR. SRS Capital Advisors Inc. raised its holdings in shares of Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential in the third quarter valued at approximately $29,000. Brooklyn Investment Group bought a new stake in Equity Residential during the third quarter valued at approximately $33,000. Continuum Advisory LLC purchased a new position in Equity Residential in the 3rd quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after buying an additional 156 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Insider Buying and Selling at Equity Residential

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 transaction of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares in the company, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, the chief operating officer now directly owns 26,781 shares in the company, valued at $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by corporate insiders.

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Equity Residential Trading Down 7.1 %

Shares of EQR traded down $4.86 during mid-day trading on Friday, hitting $63.69. 2,449,507 shares of the company's stock traded hands, compared to its average volume of 1,690,205. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $24.18 billion, a P/E ratio of 23.42, a PEG ratio of 3.99 and a beta of 0.91. The business's 50-day moving average price is $70.99 and its 200-day moving average price is $72.25. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $0.6925 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a yield of 4.35%. Equity Residential's dividend payout ratio (DPR) is 101.84%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQR shares. Truist Financial upped their target price on shares of Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company reduced their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Stifel Nicolaus set a $82.25 target price on Equity Residential in a research note on Tuesday, February 4th. Evercore ISI lifted their price target on shares of Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Equity Residential presently has a consensus rating of "Hold" and an average target price 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.