Equity Residential (NYSE:EQR) Shares Acquired by Korea Investment CORP

Korea Investment CORP raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,901 shares of the real estate investment trust's stock after buying an additional 18,851 shares during the period. Korea Investment CORP owned about 0.08% of Equity Residential worth $21,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EQR. SRS Capital Advisors Inc. grew its position in Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Equity Residential in the 3rd quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Equity Residential in the 3rd quarter worth about $33,000. Continuum Advisory LLC bought a new stake in Equity Residential during the 3rd quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC grew its stake in Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EQR shares. Stifel Nicolaus set a $82.25 price target on Equity Residential in a report on Tuesday, February 4th. Scotiabank increased their price target on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Mizuho dropped their target price 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. Finally, Barclays cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $78.51.

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Equity Residential Price Performance

Shares of EQR stock traded down $2.01 during mid-day trading on Thursday, hitting $69.62. 422,482 shares of the stock were exchanged, compared to its average volume of 1,678,819. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84. The firm has a fifty day moving average of $71.08 and a 200 day moving average of $72.37. The company has a market cap of $26.44 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.6925 dividend. This represents a $2.77 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's payout ratio is presently 101.84%.

Insiders Place Their Bets

In related news, EVP Scott Fenster sold 5,340 shares of the firm'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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the sale, the chief operating officer now owns 26,781 shares of the company's stock, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,763 shares of company stock worth $1,424,217. Company insiders own 1.00% of the company's stock.

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.