Equity Residential (NYSE:EQR) Shares Acquired by AR Asset Management Inc.

AR Asset Management Inc. grew its position in shares of Equity Residential (NYSE:EQR - Free Report) by 405.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,000 shares of the real estate investment trust's stock after buying an additional 34,500 shares during the quarter. AR Asset Management Inc.'s holdings in Equity Residential were worth $2,630,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Equity Residential by 0.7% during the third quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust's stock worth $3,369,707,000 after acquiring an additional 372,181 shares during the period. Northern Trust Corp grew its stake in shares of Equity Residential by 1.8% during the 3rd quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust's stock worth $320,386,000 after purchasing an additional 94,511 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Equity Residential by 13.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust's stock valued at $305,659,000 after purchasing an additional 629,813 shares in the last quarter. FMR LLC increased its holdings in shares of Equity Residential by 68.5% in the 3rd quarter. FMR LLC now owns 4,416,565 shares of the real estate investment trust's stock valued at $259,297,000 after purchasing an additional 1,795,772 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Equity Residential by 5.2% in the third quarter. Morgan Stanley now owns 4,136,866 shares of the real estate investment trust's stock valued at $242,876,000 after purchasing an additional 203,470 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Insider Transactions at Equity Residential

In related news, CAO Ian Kaufman sold 716 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of the sale, the chief accounting officer now directly owns 23,949 shares in the company, valued at $1,384,252.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Ian Kaufman sold 716 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares of the company's stock, valued at approximately $1,384,252.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Garechana sold 876 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the sale, the chief financial officer now directly owns 20,933 shares of the company's stock, valued at approximately $1,209,927.40. The disclosure for this sale can be found here. Insiders have sold a total of 8,860 shares of company stock worth $566,034 in the last three months. Company insiders own 1.00% of the company's stock.

Equity Residential Trading Down 0.4 %

NYSE EQR traded down $0.24 during mid-day trading on Friday, reaching $66.80. 1,123,702 shares of the stock were exchanged, compared to its average volume of 2,085,862. The stock has a market capitalization of $25.35 billion, a PE ratio of 27.81, a PEG ratio of 3.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The business's fifty day simple moving average is $63.02 and its 200 day simple moving average is $60.23.

Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $730.80 million for the quarter, compared to analysts' expectations of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The business's revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. On average, research analysts anticipate that Equity Residential will post 3.87 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.04%. This is an increase from Equity Residential's previous quarterly dividend of $0.66. Equity Residential's dividend payout ratio is currently 112.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EQR. Mizuho dropped their target price on shares of Equity Residential from $62.00 to $61.00 and set a "neutral" rating for the company in a report on Wednesday, February 28th. Piper Sandler raised their price objective on Equity Residential from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, April 29th. Truist Financial decreased their target price on Equity Residential from $71.00 to $67.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. Evercore ISI raised their price target on Equity Residential from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Equity Residential in a research note on Tuesday, January 30th. They set a "hold" rating and a $64.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of "Hold" and an average target price of $67.04.

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.

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