Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Equity Residential (NYSE:EQR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Equity Residential (NYSE:EQR - Free Report) by 119.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,753 shares of the real estate investment trust's stock after buying an additional 263,622 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.13% of Equity Residential worth $34,714,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its stake in shares of Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Equity Residential in the third quarter valued at approximately $29,000. Assetmark Inc. increased its position in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 430 shares during the period. Brooklyn Investment Group bought a new position in Equity Residential during the 3rd quarter worth approximately $33,000. Finally, Continuum Advisory LLC acquired a new position in shares of Equity Residential in the 3rd quarter worth approximately $40,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Scott Fenster sold 5,340 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 35,507 shares of the company's stock, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. This represents a 26.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,763 shares of company stock valued at $1,424,217. Corporate insiders own 1.00% of the company's stock.

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Equity Residential Trading Down 1.4 %

Equity Residential stock traded down $1.01 during trading hours on Tuesday, reaching $69.87. The stock had a trading volume of 2,180,633 shares, compared to its average volume of 1,596,980. The stock has a market cap of $26.53 billion, a PE ratio of 25.69, a PEG ratio of 3.99 and a beta of 0.91. 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. The company has a fifty day simple moving average of $70.70 and a 200-day simple moving average of $72.90.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Thursday, January 2nd. Equity Residential's payout ratio is 99.26%.

Analyst Ratings Changes

EQR has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of 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 target on Equity Residential in a report on Tuesday, February 4th. StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Truist Financial raised their target price on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Barclays lowered their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.