Equity Residential (NYSE:EQR) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp trimmed its holdings in Equity Residential (NYSE:EQR - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,560 shares of the real estate investment trust's stock after selling 6,600 shares during the quarter. Alberta Investment Management Corp's holdings in Equity Residential were worth $7,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Equity Residential by 1.4% in the third quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust's stock valued at $1,796,976,000 after purchasing an additional 321,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equity Residential by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust's stock valued at $694,441,000 after acquiring an additional 132,638 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 2.0% in the fourth 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 acquiring an additional 152,248 shares during the period. FMR LLC boosted its holdings in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after acquiring an additional 1,741,840 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equity Residential by 806.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock valued at $317,136,000 after acquiring an additional 3,789,234 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

Shares of EQR stock traded down $0.11 during mid-day trading on Friday, reaching $71.56. The stock had a trading volume of 1,115,047 shares, compared to its average volume of 1,571,603. Equity Residential has a 12-month low of $58.81 and a 12-month high of $78.83. The company has a market cap of $27.17 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.99 and a beta of 0.93. The business has a 50-day simple moving average of $70.44 and a 200 day simple moving average of $72.78. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, January 2nd. Equity Residential's dividend payout ratio is presently 99.26%.

Insider Buying and Selling

In related news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, the chief operating officer now owns 26,781 shares in the company, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the sale, the chief financial officer now owns 14,108 shares of the company's stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Scotiabank increased their price target on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a report on Friday, February 14th. Evercore ISI increased their price target on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Finally, Mizuho cut 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. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $78.42.

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.