Wellington Management Group LLP Sells 7,254 Shares of Equity Residential (NYSE:EQR)

Wellington Management Group LLP lowered its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,093 shares of the real estate investment trust's stock after selling 7,254 shares during the period. Wellington Management Group LLP's holdings in Equity Residential were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in shares of Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential in the 3rd quarter valued at approximately $29,000. Continuum Advisory LLC bought a new stake in Equity Residential during the 3rd quarter worth approximately $40,000. Smartleaf Asset Management LLC raised its holdings in Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after buying an additional 156 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in Equity Residential by 109.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 288 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Remove Ads

Equity Residential Trading Up 0.1 %

NYSE EQR traded up $0.05 during trading hours on Tuesday, hitting $66.97. 1,838,511 shares of the company's stock were exchanged, compared to its average volume of 1,718,712. 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 stock has a 50-day simple moving average of $70.07 and a 200 day simple moving average of $71.57. The firm has a market cap of $25.43 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 3.99 and a beta of 0.85.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's payout ratio is presently 101.84%.

Insider Activity

In related news, COO Michael L. Manelis sold 9,487 shares of the company'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 owns 26,781 shares in the company, valued at $1,930,106.67. This represents a 26.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction dated 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 owns 25,539 shares of the company's stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock worth $1,424,217 in the last three months. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Wells Fargo & Company dropped their target price on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Evercore ISI raised their price target on shares of Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Finally, Scotiabank boosted their price objective 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $78.51.

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.