Equity Residential (NYSE:EQR) is HGI Capital Management LLC's 2nd Largest Position

HGI Capital Management LLC decreased its position in shares of Equity Residential (NYSE:EQR - Free Report) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 102,725 shares of the real estate investment trust's stock after selling 6,161 shares during the period. Equity Residential accounts for approximately 7.6% of HGI Capital Management LLC's portfolio, making the stock its 2nd largest holding. HGI Capital Management LLC's holdings in Equity Residential were worth $7,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EQR. Norges Bank acquired a new stake in shares of Equity Residential during the fourth quarter worth $2,493,426,000. APG Asset Management US Inc. boosted its stake in Equity Residential by 0.5% in the 4th quarter. APG Asset Management US Inc. now owns 11,664,576 shares of the real estate investment trust's stock worth $837,050,000 after buying an additional 57,660 shares during the last quarter. Geode Capital Management LLC grew its holdings in Equity Residential by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 9,519,627 shares of the real estate investment trust's stock valued at $681,594,000 after buying an additional 165,683 shares during the period. Principal Financial Group Inc. grew its holdings in Equity Residential by 2.0% in the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust's stock valued at $566,749,000 after buying an additional 152,248 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Equity Residential by 12.0% during the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after acquiring an additional 696,343 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 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 $46,262.52. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This trade represents a 13.07 % 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 90 days. 1.00% of the stock is owned by corporate insiders.

Equity Residential Stock Performance

NYSE:EQR opened at $68.16 on Friday. The firm has a 50-day moving average of $69.83 and a two-hundred day moving average of $71.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $25.88 billion, a P/E ratio of 25.06, a PEG ratio of 3.99 and a beta of 0.85. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were issued a $0.6925 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a yield of 4.06%. This is an increase from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's dividend payout ratio is currently 101.84%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EQR. Scotiabank upped their price target 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. Wells Fargo & Company reduced their target price 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. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Truist Financial raised their price objective on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $78.51.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.