LGT Capital Partners LTD. Sells 29,930 Shares of Equity Residential (NYSE:EQR)

LGT Capital Partners LTD. lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 40.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,660 shares of the real estate investment trust's stock after selling 29,930 shares during the period. LGT Capital Partners LTD.'s holdings in Equity Residential were worth $3,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SRS Capital Advisors Inc. grew its holdings in Equity Residential by 607.8% during the 4th 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential during the third quarter valued at approximately $29,000. Assetmark Inc. grew its stake in shares of Equity Residential by 2,529.4% during 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 during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Equity Residential in the third quarter valued at approximately $33,000. Finally, Continuum Advisory LLC bought a new position in Equity Residential in the 3rd quarter worth approximately $40,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Trading Down 1.4 %

Shares of Equity Residential stock traded down $1.01 during trading hours on Tuesday, hitting $69.87. The company's stock had a trading volume of 1,386,890 shares, compared to its average volume of 1,595,292. The company has a market capitalization of $26.53 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a 50 day moving average of $70.73 and a 200 day moving average of $72.93. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84.

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Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.86%. Equity Residential's payout ratio is 99.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQR. Barclays lowered their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Evercore ISI lifted their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Wells Fargo & Company cut their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Finally, Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research note on Tuesday, February 4th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $78.51.

Insiders Place Their Bets

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

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.