APG Asset Management N.V. Buys 184,800 Shares of Equity Residential (NYSE:EQR)

APG Asset Management N.V. boosted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 431,100 shares of the real estate investment trust's stock after purchasing an additional 184,800 shares during the quarter. APG Asset Management N.V. owned about 0.11% of Equity Residential worth $29,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQR. FIL Ltd grew its stake in shares of Equity Residential by 113.2% in the fourth quarter. FIL Ltd now owns 269,654 shares of the real estate investment trust's stock worth $19,350,000 after acquiring an additional 143,194 shares during the last quarter. Invesco Ltd. raised its position in shares of Equity Residential by 12.0% during the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after buying an additional 696,343 shares during the last quarter. Employees Retirement System of Texas lifted its stake in shares of Equity Residential by 24.0% in the fourth quarter. Employees Retirement System of Texas now owns 258,020 shares of the real estate investment trust's stock valued at $185,155,000 after buying an additional 50,000 shares during the period. Ilmarinen Mutual Pension Insurance Co grew its position in Equity Residential by 36.5% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 63,600 shares of the real estate investment trust's stock worth $4,564,000 after buying an additional 17,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Equity Residential by 19.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 203,612 shares of the real estate investment trust's stock valued at $14,611,000 after acquiring an additional 33,057 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Remove Ads

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at approximately $1,840,340.34. This represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the sale, the chief operating officer now owns 26,781 shares of the company's stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,763 shares of company stock worth $1,424,217. Insiders own 1.00% of the company's stock.

Equity Residential Price Performance

NYSE:EQR traded up $1.58 during mid-day trading on Monday, reaching $66.22. 377,278 shares of the company were exchanged, compared to its average volume of 1,771,638. 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 stock has a market cap of $25.14 billion, a PE ratio of 24.35, a PEG ratio of 3.99 and a beta of 0.85. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The company has a fifty day moving average of $70.17 and a 200 day moving average of $71.62.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $0.6925 dividend. This represents a $2.77 annualized dividend and a yield of 4.18%. The ex-dividend date is Monday, March 31st. This is a boost from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's payout ratio is 101.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Evercore ISI increased their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Scotiabank lifted their target price on shares of Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a research report on Friday, February 14th. StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Finally, Wells Fargo & Company decreased their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.