Andra AP fonden Trims Position in Equity Residential (NYSE:EQR)

Andra AP fonden cut its holdings in Equity Residential (NYSE:EQR - Free Report) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,600 shares of the real estate investment trust's stock after selling 93,300 shares during the period. Andra AP fonden's holdings in Equity Residential were worth $8,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SRS Capital Advisors Inc. grew 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 worth $26,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Equity Residential in the third quarter valued at $29,000. Assetmark Inc. boosted its holdings in Equity Residential by 2,529.4% in the third 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 in the last quarter. Brooklyn Investment Group purchased a new position in Equity Residential in the third quarter valued at approximately $33,000. Finally, Continuum Advisory LLC acquired a new stake in Equity Residential during the third quarter worth approximately $40,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQR has been the topic of several research analyst reports. Mizuho cut their price target on shares of 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 report on Saturday, February 8th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Scotiabank increased their price objective on Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a report on Friday, February 14th. Finally, Truist Financial lifted their target price on shares of Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.51.

Remove Ads

Insider Buying and Selling

In related news, CFO Robert Garechana sold 4,294 shares of the company's stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares of the company's stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by insiders.

Equity Residential Price Performance

EQR stock traded down $0.82 during trading on Wednesday, reaching $68.97. 1,203,464 shares of the company were exchanged, compared to its average volume of 1,594,528. 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 quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $26.19 billion, a P/E ratio of 25.35, a PEG ratio of 3.99 and a beta of 0.91. The stock's 50 day moving average price is $70.70 and its 200 day moving average price is $72.90.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential's payout ratio is currently 99.26%.

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.