Envestnet Asset Management Inc. Purchases 33,057 Shares of Equity Residential (NYSE:EQR)

Envestnet Asset Management Inc. boosted its position in shares of Equity Residential (NYSE:EQR - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,612 shares of the real estate investment trust's stock after purchasing an additional 33,057 shares during the period. Envestnet Asset Management Inc. owned 0.05% of Equity Residential worth $14,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Equity Residential in the 4th quarter valued at $2,493,426,000. Principal Financial Group Inc. boosted its stake in shares of Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock worth $576,737,000 after acquiring an additional 591,866 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Equity Residential during the 4th quarter valued at about $32,664,000. KBC Group NV raised its stake in shares of Equity Residential by 100.9% in the 4th quarter. KBC Group NV now owns 691,061 shares of the real estate investment trust's stock valued at $49,590,000 after acquiring an additional 347,085 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Equity Residential by 20.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,011,368 shares of the real estate investment trust's stock worth $144,336,000 after purchasing an additional 345,988 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Insider Buying and Selling

In other news, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction on 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 trade represents a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Garechana sold 4,294 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 $309,425.64. Following the transaction, the chief financial officer now directly owns 14,108 shares in the company, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock worth $1,424,217 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays lowered their price target on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a report on Tuesday, February 4th. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Finally, Scotiabank increased their target price on Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Equity Residential has a consensus rating of "Hold" and a consensus price target of $78.51.

Equity Residential Price Performance

NYSE EQR traded up $1.44 during trading hours on Tuesday, reaching $68.94. 1,709,214 shares of the company's stock were exchanged, compared to its average volume of 1,718,631. The firm has a fifty day moving average of $69.64 and a 200-day moving average of $71.34. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a one year low of $59.41 and a one year high of $78.84. The stock has a market cap of $26.19 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.99 and a beta of 0.85.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were issued a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 31st. Equity Residential's payout ratio is currently 101.84%.

Equity Residential Company 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.