Chevy Chase Trust Holdings LLC Has $12.92 Million Stake in Equity Residential (NYSE:EQR)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,983 shares of the real estate investment trust's stock after selling 3,762 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Equity Residential were worth $12,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. lifted its stake in Equity Residential by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 696,540 shares of the real estate investment trust's stock worth $49,858,000 after purchasing an additional 17,757 shares during the last quarter. Portfolio Design Labs LLC increased its position in Equity Residential by 32.4% in the fourth quarter. Portfolio Design Labs LLC now owns 32,378 shares of the real estate investment trust's stock worth $2,323,000 after buying an additional 7,927 shares during the period. Sovran Advisors LLC acquired a new stake in Equity Residential in the fourth quarter worth $255,000. Global Wealth Management Investment Advisory Inc. increased its position in Equity Residential by 12.7% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 10,768 shares of the real estate investment trust's stock worth $773,000 after buying an additional 1,214 shares during the period. Finally, Soltis Investment Advisors LLC increased its position in Equity Residential by 6.0% in the fourth quarter. Soltis Investment Advisors LLC now owns 45,932 shares of the real estate investment trust's stock worth $3,296,000 after buying an additional 2,608 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the firm'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 approximately $1,930,106.67. This trade represents a 26.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company's stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 in the last quarter. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus raised Equity Residential from a "hold" rating to a "buy" rating and increased their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Scotiabank increased their target price 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. Evercore ISI increased their target price on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target 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. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Equity Residential has an average rating of "Hold" and a consensus target price of $78.42.

Equity Residential Trading Up 0.8 %

Shares of NYSE:EQR traded up $0.54 during midday trading on Thursday, reaching $71.66. The company had a trading volume of 1,105,751 shares, compared to its average volume of 1,634,383. 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 has a 1-year low of $58.81 and a 1-year high of $78.83. The firm has a market cap of $27.21 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93. The company has a fifty day simple moving average of $70.52 and a two-hundred day simple moving average of $72.77.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.77%. Equity Residential's dividend payout ratio (DPR) is 99.26%.

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.