Cibc World Markets Corp Grows Position in Equity Residential (NYSE:EQR)

Cibc World Markets Corp lifted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,229 shares of the real estate investment trust's stock after purchasing an additional 16,770 shares during the quarter. Cibc World Markets Corp's holdings in Equity Residential were worth $10,996,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American Assets Capital Advisers LLC boosted its stake in Equity Residential by 70.3% in the fourth quarter. American Assets Capital Advisers LLC now owns 11,577 shares of the real estate investment trust's stock worth $831,000 after buying an additional 4,777 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Equity Residential by 49.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,372 shares of the real estate investment trust's stock worth $314,000 after buying an additional 1,455 shares in the last quarter. Natixis Advisors LLC boosted its stake in Equity Residential by 7.0% in the fourth quarter. Natixis Advisors LLC now owns 78,886 shares of the real estate investment trust's stock worth $5,661,000 after buying an additional 5,187 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in Equity Residential by 4.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,604 shares of the real estate investment trust's stock worth $402,000 after buying an additional 218 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its stake in Equity Residential by 43.7% in the fourth quarter. Picton Mahoney Asset Management now owns 6,562 shares of the real estate investment trust's stock worth $471,000 after buying an additional 1,994 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

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Equity Residential Stock Down 0.5 %

EQR stock traded down $0.33 during midday trading on Friday, hitting $69.85. The stock had a trading volume of 3,054,268 shares, compared to its average volume of 1,583,107. The firm has a market cap of $26.52 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The business has a 50-day moving average of $70.79 and a two-hundred day moving average of $72.66. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.6925 dividend. This is a boost from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Monday, March 31st. Equity Residential's dividend payout ratio is currently 101.84%.

Insider Transactions at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares of the company's stock, valued at approximately $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Garechana sold 4,294 shares of the 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 completion of the sale, the chief financial officer now directly owns 14,108 shares in the company, 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. Over the last three months, insiders have sold 19,763 shares of company stock valued at $1,424,217. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on EQR shares. Scotiabank boosted their price objective on Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a research report on Friday, February 14th. Wells Fargo & Company lowered their price objective on 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. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a research report on Tuesday, February 4th. Mizuho lowered their price objective on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, Evercore ISI boosted their price objective on Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Equity Residential presently has a consensus rating of "Hold" and an average target price of $78.51.

Equity Residential Company 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.