Martingale Asset Management L P lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,688 shares of the real estate investment trust's stock after selling 8,209 shares during the period. Martingale Asset Management L P's holdings in Equity Residential were worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Keybank National Association OH boosted its stake in shares of Equity Residential by 2.0% in the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after buying an additional 139 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Equity Residential by 25.3% during the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 146 shares during the period. Transamerica Financial Advisors Inc. grew its stake in shares of Equity Residential by 4.1% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust's stock worth $275,000 after purchasing an additional 151 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 156 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Equity Residential by 4.0% in the 4th quarter. Frank Rimerman Advisors LLC now owns 5,604 shares of the real estate investment trust's stock valued at $402,000 after purchasing an additional 218 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.
Equity Residential Trading Down 0.1 %
Equity Residential stock traded down $0.04 during trading on Tuesday, reaching $66.88. 442,827 shares of the company were exchanged, compared to its average volume of 1,713,030. The stock's 50 day simple moving average is $70.07 and its two-hundred day simple moving average is $71.57. The company has a market capitalization of $25.39 billion, a P/E ratio of 24.59, a PEG ratio of 3.99 and a beta of 0.85. 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 has a 52-week low of $59.41 and a 52-week high of $78.84.
Equity Residential Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $0.6925 per share. This is a boost from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 4.14%. Equity Residential's payout ratio is presently 101.84%.
Insider Activity at Equity Residential
In other Equity Residential news, 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 value of $384,800.40. Following the transaction, the executive vice president now owns 35,507 shares of the company's stock, valued at $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares of the company's stock, valued at approximately $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
EQR has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Barclays reduced their price target on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a report on Tuesday, February 4th. Mizuho reduced their target price on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Equity Residential has a consensus rating of "Hold" and an average target price of $78.51.
Check Out Our Latest Stock Report on Equity Residential
About Equity Residential
(
Free Report)
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.
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