Zurcher Kantonalbank Zurich Cantonalbank Has $12.79 Million Position in Equity Residential (NYSE:EQR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Equity Residential (NYSE:EQR) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,111 shares of the real estate investment trust’s stock after buying an additional 8,625 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity Residential were worth $12,789,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Alliance grew its position in Equity Residential by 5.6% during the fourth quarter. Wealth Alliance now owns 7,175 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 383 shares in the last quarter. Rye Brook Capital LLC boosted its holdings in shares of Equity Residential by 2.9% in the 4th quarter. Rye Brook Capital LLC now owns 50,050 shares of the real estate investment trust’s stock valued at $3,061,000 after purchasing an additional 1,400 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in shares of Equity Residential by 2.6% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 185 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Equity Residential in the 4th quarter valued at $55,000. Finally, Conning Inc. boosted its holdings in shares of Equity Residential by 11.2% in the 4th quarter. Conning Inc. now owns 39,707 shares of the real estate investment trust’s stock valued at $2,428,000 after purchasing an additional 3,985 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Buying and Selling

In other news, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the completion of the transaction, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at $1,384,252.20. The disclosure for this sale can be found here. Insiders sold a total of 3,280 shares of company stock valued at $192,335 in the last three months. Insiders own 1.69% of the company’s stock.

Equity Residential Stock Up 0.9 %

Shares of NYSE:EQR opened at $61.54 on Friday. The firm has a market cap of $23.32 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.50 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.45. The business has a fifty day simple moving average of $61.51 and a 200 day simple moving average of $59.65.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.18). The company had revenue of $727.50 million for the quarter, compared to the consensus estimate of $725.07 million. Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 earnings per share. Analysts predict that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were given a dividend of $0.675 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.39%. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EQR shares. Piper Sandler reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Equity Residential in a report on Tuesday, March 26th. Barclays reduced their target price on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Morgan Stanley raised their target price on Equity Residential from $58.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Mizuho dropped their price target on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.32.

Equity Residential 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.