Alliancebernstein L.P. Has $32.68 Million Stake in Equity Residential (NYSE:EQR)

Alliancebernstein L.P. lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,450 shares of the real estate investment trust's stock after selling 22,549 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Equity Residential worth $32,683,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Equity Residential by 119.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock worth $34,714,000 after acquiring an additional 263,622 shares in the last quarter. Vert Asset Management LLC increased its position in Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock worth $10,782,000 after purchasing an additional 10,472 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Equity Residential during the 4th quarter worth about $321,000. Atomi Financial Group Inc. lifted its holdings in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust's stock valued at $266,000 after buying an additional 284 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Equity Residential by 12.3% during the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust's stock valued at $9,625,000 after buying an additional 14,109 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQR. Truist Financial raised their price objective on shares of Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, March 10th. 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 report on Monday, January 6th. Wells Fargo & Company reduced 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 note on Friday, January 24th. Barclays lowered their target price on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Finally, StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.51.

Equity Residential Stock Performance

EQR stock traded up $0.35 on Friday, reaching $64.62. 2,335,777 shares of the company were exchanged, compared to its average volume of 1,716,086. The firm has a market capitalization of $24.54 billion, a PE ratio of 23.76, a PEG ratio of 3.99 and a beta of 0.85. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.84. The stock's fifty day moving average price is $70.17 and its 200 day moving average price is $71.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.6925 per share. This is an increase from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 4.29%. Equity Residential's payout ratio is presently 101.84%.

Insider Activity

In other news, CAO Ian Kaufman sold 642 shares of the business'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 transaction of $46,262.52. Following the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Fenster sold 5,340 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 $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 approximately $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,763 shares of company stock valued at $1,424,217. 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.