Thrivent Financial for Lutherans lowered its stake in Equity Residential (NYSE:EQR - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,959 shares of the real estate investment trust's stock after selling 6,537 shares during the period. Thrivent Financial for Lutherans' holdings in Equity Residential were worth $3,442,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Mystic Asset Management Inc. boosted its stake in shares of Equity Residential by 20.7% during the 4th quarter. Mystic Asset Management Inc. now owns 6,580 shares of the real estate investment trust's stock valued at $472,000 after purchasing an additional 1,130 shares in the last quarter. Cibc World Markets Corp boosted its position in Equity Residential by 12.3% during the 4th quarter. Cibc World Markets Corp now owns 153,229 shares of the real estate investment trust's stock valued at $10,996,000 after acquiring an additional 16,770 shares in the last quarter. American Assets Capital Advisers LLC boosted its position in Equity Residential by 70.3% during the 4th quarter. American Assets Capital Advisers LLC now owns 11,577 shares of the real estate investment trust's stock valued at $831,000 after acquiring an additional 4,777 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Equity Residential by 49.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,372 shares of the real estate investment trust's stock worth $314,000 after acquiring an additional 1,455 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of Equity Residential by 7.0% in the 4th quarter. Natixis Advisors LLC now owns 78,886 shares of the real estate investment trust's stock worth $5,661,000 after acquiring an additional 5,187 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.
Equity Residential Stock Performance
Shares of Equity Residential stock traded up $0.12 during trading on Friday, hitting $71.38. 1,163,184 shares of the company's stock traded hands, compared to its average volume of 1,682,915. The stock has a market capitalization of $27.10 billion, a P/E ratio of 26.24, a PEG 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 business has a 50-day simple moving average of $70.95 and a 200-day simple moving average of $72.47. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84.
Equity Residential Increases Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 3.88%. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's payout ratio is presently 101.84%.
Insider Activity at Equity Residential
In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the firm's 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 sale, the chief operating officer now directly owns 26,781 shares in the company, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on EQR shares. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Truist Financial boosted their target price on shares of Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, March 10th. StockNews.com upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Wells Fargo & Company dropped their price objective on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Finally, Mizuho cut their price objective on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Ten 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, the company currently has an average rating of "Hold" and an average target price of $78.51.
View Our Latest Stock Report on EQR
Equity Residential Profile
(
Free Report)
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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