Centersquare Investment Management LLC Has $319.91 Million Stake in Equity Residential (NYSE:EQR)

Centersquare Investment Management LLC trimmed its holdings in Equity Residential (NYSE:EQR - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,458,033 shares of the real estate investment trust's stock after selling 123,768 shares during the period. Equity Residential accounts for about 3.4% of Centersquare Investment Management LLC's portfolio, making the stock its 9th biggest holding. Centersquare Investment Management LLC owned approximately 1.17% of Equity Residential worth $319,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its holdings in Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Equity Residential during the 3rd quarter worth about $29,000. Continuum Advisory LLC bought a new stake in shares of Equity Residential during the 3rd quarter worth about $40,000. Smartleaf Asset Management LLC grew its stake in 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 valued at $40,000 after buying an additional 156 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 288 shares during the period. 92.68% of the stock is currently owned by institutional investors.

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Insider Activity at Equity Residential

In related news, CFO Robert Garechana sold 4,294 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 14,108 shares in the company, valued at $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock worth $1,424,217 in the last quarter. 1.00% of the stock is owned by insiders.

Equity Residential Price Performance

Shares of Equity Residential stock traded down $0.35 during midday trading on Wednesday, hitting $61.47. 1,101,485 shares of the company traded hands, compared to its average volume of 1,704,431. The firm's fifty day moving average price is $70.54 and its 200-day moving average price is $71.90. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 22.60, 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 debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.6925 per share. This is a boost from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 31st. Equity Residential's payout ratio is 101.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a report on Tuesday, February 4th. Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Scotiabank increased 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. Wells Fargo & Company reduced their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, January 24th. Finally, Evercore ISI raised 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 report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Equity Residential currently has a consensus rating of "Hold" and an average price target of $78.51.

About Equity Residential

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.