Geode Capital Management LLC Has $681.59 Million Stock Position in Equity Residential (NYSE:EQR)

Geode Capital Management LLC boosted its stake in shares of Equity Residential (NYSE:EQR) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,519,627 shares of the real estate investment trust’s stock after purchasing an additional 165,683 shares during the period. Geode Capital Management LLC’s holdings in Equity Residential were worth $681,594,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. SRS Capital Advisors Inc. raised its stake in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Equity Residential during the third quarter worth $29,000. Continuum Advisory LLC bought a new stake in Equity Residential during the third quarter worth $40,000. Smartleaf Asset Management LLC lifted its stake in Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 156 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

Equity Residential stock opened at $68.52 on Friday. The firm has a market cap of $26.02 billion, a PE ratio of 25.19, a price-to-earnings-growth 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 stock’s fifty day moving average price is $71.08 and its two-hundred day moving average price is $72.34. Equity Residential has a one year low of $59.48 and a one year high of $78.84.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a yield of 4.04%. 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 101.84%.

Insider Buying and Selling

In related news, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction that occurred on 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 directly owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was 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 of the company’s stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last quarter. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EQR has been the topic of a number of recent analyst reports. Scotiabank boosted their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Truist Financial increased their price target on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Mizuho reduced their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays dropped their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company cut their target price 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. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Equity Residential currently has an average rating of “Hold” and an average 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.