BI Asset Management Fondsmaeglerselskab A S Sells 5,662 Shares of Equity Residential (NYSE:EQR)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,920 shares of the real estate investment trust's stock after selling 5,662 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Equity Residential were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Equity Residential by 8.3% during the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock worth $576,737,000 after acquiring an additional 591,866 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the third quarter worth $29,000. Tidal Investments LLC raised its position in Equity Residential by 12.3% during the third quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust's stock valued at $9,625,000 after acquiring an additional 14,109 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Equity Residential by 104.6% during the 3rd quarter. Synovus Financial Corp now owns 17,195 shares of the real estate investment trust's stock valued at $1,280,000 after purchasing an additional 8,789 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Equity Residential by 4.6% in the third quarter. Franklin Resources Inc. now owns 182,397 shares of the real estate investment trust's stock worth $13,430,000 after buying an additional 8,088 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQR has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Scotiabank boosted their target price on shares of Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Mizuho dropped their price objective on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Barclays lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Truist Financial boosted 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. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Equity Residential has an average rating of "Hold" and an average target price of $79.01.

Equity Residential Stock Performance

NYSE EQR traded up $0.86 during trading hours on Monday, reaching $69.39. 939,170 shares of the company were exchanged, compared to its average volume of 1,777,164. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $26.36 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.99 and a beta of 0.85. The business's 50 day simple moving average is $69.52 and its 200-day simple moving average is $71.26. Equity Residential has a 1 year low of $59.41 and a 1 year high of $78.83.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were issued a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 31st. Equity Residential's dividend payout ratio is presently 101.84%.

Insider Activity

In related news, 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 directly owns 25,539 shares of the company's stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Fenster sold 5,340 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 $384,800.40. Following the transaction, the executive vice president now directly owns 35,507 shares in the company, 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 sold 19,763 shares of company stock worth $1,424,217 in the last three months. Corporate insiders own 1.00% of the company's stock.

Equity Residential 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.