NEOS Investment Management LLC Grows Position in Equity Residential (NYSE:EQR)

NEOS Investment Management LLC lifted its position in Equity Residential (NYSE:EQR - Free Report) by 31.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,780 shares of the real estate investment trust's stock after acquiring an additional 4,978 shares during the quarter. NEOS Investment Management LLC's holdings in Equity Residential were worth $1,477,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Keybank National Association OH lifted its position in shares of Equity Residential by 2.0% during the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 139 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Equity Residential by 25.3% in the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 146 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Equity Residential by 38.8% during the fourth 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 during the period. Frank Rimerman Advisors LLC raised its position in Equity Residential by 4.0% during 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 in the last quarter. Finally, US Bancorp DE raised its position in Equity Residential by 0.7% during the 4th quarter. US Bancorp DE now owns 31,433 shares of the real estate investment trust's stock valued at $2,256,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 92.68% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research note on Tuesday, February 4th. Barclays cut 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. Mizuho lowered their target price on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Truist Financial boosted their price objective on shares of Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, Evercore ISI increased their price target on Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Ten research 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, Equity Residential presently has an average rating of "Hold" and a consensus price target of $78.51.

Equity Residential Stock Performance

Shares of NYSE:EQR traded down $1.86 during trading on Thursday, hitting $69.77. 431,238 shares of the stock traded hands, compared to its average volume of 1,678,897. The company has a fifty day moving average price of $71.08 and a two-hundred day moving average price of $72.37. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 3.99 and a beta of 0.91. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $0.6925 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's dividend payout ratio is 101.84%.

Insider Transactions at Equity Residential

In other Equity Residential news, EVP Scott Fenster sold 5,340 shares of the 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 $384,800.40. Following the transaction, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the sale, the chief accounting officer now owns 25,539 shares of the company's stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock valued at $1,424,217 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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.