Equity Residential (NYSE:EQR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of Equity Residential (NYSE:EQR) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 268,608 shares of the real estate investment trust’s stock after selling 146,921 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Equity Residential worth $16,470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EQR. Cornercap Investment Counsel Inc. grew its holdings in shares of Equity Residential by 2.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 185 shares during the period. Czech National Bank increased its position in shares of Equity Residential by 0.4% in the fourth quarter. Czech National Bank now owns 60,520 shares of the real estate investment trust’s stock worth $3,701,000 after acquiring an additional 236 shares in the last quarter. Covestor Ltd raised its stake in shares of Equity Residential by 17.3% in the 3rd quarter. Covestor Ltd now owns 1,626 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 240 shares during the period. Allworth Financial LP lifted its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Baldwin Brothers LLC MA boosted its position in Equity Residential by 34.1% during the 4th quarter. Baldwin Brothers LLC MA now owns 1,145 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 291 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary Kay Haben sold 3,241 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total value of $212,220.68. Following the sale, the director now owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the sale, the director now owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael L. Manelis sold 1,639 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the transaction, the chief operating officer now owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,548 shares of company stock valued at $666,351. 1.00% of the stock is currently owned by insiders.

Equity Residential Trading Up 0.5 %

NYSE:EQR opened at $65.91 on Friday. The company has a market cap of $25.02 billion, a PE ratio of 27.35, a P/E/G ratio of 3.39 and a beta of 0.82. The business’s 50 day moving average is $62.34 and its two-hundred day moving average is $59.97. The company has a quick ratio of 0.30, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. Equity Residential has a 52 week low of $52.57 and a 52 week high of $69.45.

Equity Residential (NYSE:EQR) last announced 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 firm 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. On average, analysts predict that Equity Residential will post 3.88 EPS for the current year.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were paid a $0.675 dividend. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, March 22nd. Equity Residential’s payout ratio is presently 112.03%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada upped their price target on Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Monday, April 22nd. Wedbush restated a “neutral” rating and issued a $68.00 target price on shares of Equity Residential in a research note on Monday, April 29th. Finally, Piper Sandler lifted their price target on shares of Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Ten 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.04.

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.