Sei Investments Co. Reduces Stock Position in Equity Residential (NYSE:EQR)

Sei Investments Co. reduced its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 876,783 shares of the real estate investment trust's stock after selling 99,806 shares during the period. Sei Investments Co. owned 0.23% of Equity Residential worth $62,918,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in Equity Residential by 46.3% during the fourth quarter. Mizuho Securities USA LLC now owns 32,359 shares of the real estate investment trust's stock worth $2,322,000 after purchasing an additional 10,235 shares during the period. Summit Global Investments acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $714,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Equity Residential by 39.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 195,479 shares of the real estate investment trust's stock worth $14,028,000 after buying an additional 55,129 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of Equity Residential by 7.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 187,126 shares of the real estate investment trust's stock valued at $13,428,000 after acquiring an additional 13,656 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Equity Residential by 3.2% during the 4th quarter. Xponance Inc. now owns 52,556 shares of the real estate investment trust's stock valued at $3,771,000 after acquiring an additional 1,615 shares during the period. 92.68% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 26,781 shares of the company's stock, valued at $1,930,106.67. This trade represents a 26.16 % 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 company's stock in a transaction 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 transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQR. Wells Fargo & Company decreased their price target on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. Truist Financial boosted their target price on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Evercore ISI increased their price target on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Barclays decreased their price objective on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Finally, Mizuho lowered their target price on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of "Hold" and a consensus price target of $78.51.

Equity Residential Stock Performance

Shares of Equity Residential stock traded down $0.26 during mid-day trading on Thursday, hitting $71.31. 1,374,224 shares of the stock were exchanged, compared to its average volume of 1,577,165. The company has a market capitalization of $27.08 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50-day simple moving average of $70.90 and a 200 day simple moving average of $72.56. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 31st. Equity Residential's payout ratio is presently 101.84%.

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.