Natixis Reduces Position in Equity Residential (NYSE:EQR)

Natixis reduced its stake in Equity Residential (NYSE:EQR - Free Report) by 32.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,422 shares of the real estate investment trust's stock after selling 11,124 shares during the quarter. Natixis' holdings in Equity Residential were worth $1,681,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EQR. Principal Financial Group Inc. lifted its holdings in Equity Residential by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock valued at $576,737,000 after purchasing an additional 591,866 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential during the third quarter valued at approximately $29,000. Tidal Investments LLC boosted its position in Equity Residential by 12.3% during the third quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust's stock worth $9,625,000 after acquiring an additional 14,109 shares during the last quarter. Synovus Financial Corp boosted its position in Equity Residential by 104.6% during the third quarter. Synovus Financial Corp now owns 17,195 shares of the real estate investment trust's stock worth $1,280,000 after acquiring an additional 8,789 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Equity Residential by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 182,397 shares of the real estate investment trust's stock worth $13,430,000 after acquiring an additional 8,088 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Price Performance

Shares of NYSE EQR opened at $68.94 on Wednesday. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 25.34, 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 1-year low of $59.41 and a 1-year high of $78.84. The business has a 50-day moving average of $69.64 and a 200-day moving average of $71.34.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were given a $0.6925 dividend. This is an increase from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 31st. This represents a $2.77 annualized dividend and a yield of 4.02%. Equity Residential's dividend payout ratio (DPR) is 101.84%.

Insider Activity

In related news, COO Michael L. Manelis sold 9,487 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, the chief operating officer now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Fenster sold 5,340 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the transaction, the executive vice president now owns 35,507 shares in the company, valued at $2,558,634.42. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 over the last 90 days. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

EQR has been the topic of several analyst reports. Barclays decreased their price objective on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a report on Tuesday, February 4th. Mizuho dropped their price objective on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Truist Financial raised their target price 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. Finally, Scotiabank upped their price target on shares of Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $79.01.

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.

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