Corebridge Financial Inc. Trims Stock Holdings in Equity Residential (NYSE:EQR)

Corebridge Financial Inc. lessened its holdings in Equity Residential (NYSE:EQR - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,095 shares of the real estate investment trust's stock after selling 3,889 shares during the period. Corebridge Financial Inc.'s holdings in Equity Residential were worth $5,819,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQR. Keybank National Association OH grew its holdings in Equity Residential by 2.0% during the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock valued at $502,000 after buying an additional 139 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Equity Residential by 25.3% in the fourth quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 146 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Equity Residential by 38.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 156 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in Equity Residential by 4.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,604 shares of the real estate investment trust's stock worth $402,000 after purchasing an additional 218 shares in the last quarter. Finally, US Bancorp DE raised its stake in Equity Residential by 0.7% in the 4th quarter. US Bancorp DE now owns 31,433 shares of the real estate investment trust's stock valued at $2,256,000 after purchasing an additional 219 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

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Equity Residential Trading Down 4.3 %

EQR traded down $3.11 during trading on Thursday, hitting $68.52. 1,816,142 shares of the company's stock were exchanged, compared to its average volume of 1,685,155. The stock has a 50 day moving average price of $71.08 and a 200 day moving average price of $72.34. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market cap of $26.02 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.6925 dividend. This is an increase from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, March 31st. Equity Residential's dividend payout ratio is currently 101.84%.

Analysts Set New Price Targets

Several research firms have issued reports on EQR. 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 note on Monday, February 10th. Scotiabank raised their target price on shares of Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Finally, Barclays dropped their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $78.51.

Insider Buying and Selling at Equity Residential

In other news, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Fenster sold 5,340 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction 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. The trade was a 13.07 % 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 company insiders.

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.