APG Asset Management US Inc. raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,664,576 shares of the real estate investment trust's stock after acquiring an additional 57,660 shares during the period. Equity Residential makes up 6.4% of APG Asset Management US Inc.'s holdings, making the stock its 4th largest position. APG Asset Management US Inc. owned approximately 3.07% of Equity Residential worth $837,050,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Equity Residential during the 4th quarter worth about $13,921,000. APG Asset Management N.V. grew its stake in shares of Equity Residential by 75.0% in the 4th quarter. APG Asset Management N.V. now owns 431,100 shares of the real estate investment trust's stock valued at $29,875,000 after buying an additional 184,800 shares in the last quarter. FIL Ltd boosted its holdings in 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 purchasing an additional 143,194 shares in the last quarter. Invesco Ltd. raised its stake in shares of Equity Residential by 12.0% in the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after acquiring an additional 696,343 shares in the last quarter. Finally, 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 worth $185,155,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 92.68% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on EQR. Wells Fargo & Company cut their price target 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. Barclays dropped their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Truist Financial lifted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Scotiabank raised their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Finally, Evercore ISI upped their target price on Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Equity Residential has an average rating of "Hold" and a consensus target price of $78.51.
Read Our Latest Research Report on Equity Residential
Equity Residential Stock Performance
Equity Residential stock traded up $1.43 during midday trading on Monday, hitting $66.07. The company's stock had a trading volume of 437,749 shares, compared to its average volume of 1,712,401. The company has a 50-day moving average price of $70.17 and a two-hundred day moving average price of $71.62. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84. The company has a market cap of $25.09 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 3.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36.
Equity Residential Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.6925 per share. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 4.19%. Equity Residential's dividend payout ratio (DPR) is currently 101.84%.
Insider Activity at Equity Residential
In related news, CAO Ian Kaufman sold 642 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Garechana sold 4,294 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the transaction, the chief financial officer now directly owns 14,108 shares of the company's stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock valued at $1,424,217 over the last three months. 1.00% of the stock is owned by insiders.
About Equity Residential
(
Free Report)
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.
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