Texas Yale Capital Corp. Sells 10,293 Shares of Equity Residential (NYSE:EQR)

Texas Yale Capital Corp. reduced its position in Equity Residential (NYSE:EQR - Free Report) by 14.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,368 shares of the real estate investment trust's stock after selling 10,293 shares during the quarter. Texas Yale Capital Corp.'s holdings in Equity Residential were worth $4,332,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Equity Residential in the 4th quarter valued at about $2,493,426,000. Geode Capital Management LLC grew its holdings in shares of Equity Residential by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 9,519,627 shares of the real estate investment trust's stock worth $681,594,000 after acquiring an additional 165,683 shares during the period. Principal Financial Group Inc. increased its stake in Equity Residential by 2.0% in the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust's stock valued at $566,749,000 after purchasing an additional 152,248 shares in the last quarter. Invesco Ltd. raised its holdings in Equity Residential by 12.0% during the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock worth $468,050,000 after purchasing an additional 696,343 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Equity Residential by 3.3% in the fourth quarter. JPMorgan Chase & Co. now owns 4,210,383 shares of the real estate investment trust's stock valued at $302,137,000 after purchasing an additional 136,275 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EQR shares. StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Evercore ISI raised their target price on shares of 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 dropped their price objective 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. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a report on Tuesday, February 4th. Finally, 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 note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.51.

Insider Activity at Equity Residential

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

Equity Residential Price Performance

NYSE:EQR traded up $1.43 during mid-day trading on Monday, reaching $66.07. 437,749 shares of the stock were exchanged, compared to its average volume of 1,712,401. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $25.09 billion, a PE ratio of 24.29, a PEG ratio of 3.99 and a beta of 0.85. The business has a fifty day moving average price of $70.17 and a 200 day moving average price of $71.62.

Equity Residential Increases Dividend

The firm also recently announced 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 is an increase from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Monday, March 31st. Equity Residential's payout ratio is presently 101.84%.

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.