AIA Group Ltd reduced its stake in shares of Equity Residential (NYSE:EQR – Get Rating) by 88.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after selling 19,245 shares during the period. AIA Group Ltd’s holdings in Equity Residential were worth $220,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Equity Residential in the 1st quarter valued at $40,000. DAVENPORT & Co LLC raised its holdings in shares of Equity Residential by 11.2% in the first quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 289 shares during the last quarter. Versor Investments LP lifted its position in shares of Equity Residential by 26.9% during the first quarter. Versor Investments LP now owns 10,834 shares of the real estate investment trust’s stock valued at $974,000 after purchasing an additional 2,294 shares in the last quarter. Prospera Financial Services Inc purchased a new position in Equity Residential during the first quarter worth about $194,000. Finally, DekaBank Deutsche Girozentrale grew its position in Equity Residential by 101.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 156,889 shares of the real estate investment trust’s stock worth $14,224,000 after purchasing an additional 78,835 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.
Insider Activity at Equity Residential
In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the completion of the transaction, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Equity Residential Stock Up 0.4 %
Equity Residential Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Monday, June 27th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, June 24th. Equity Residential’s dividend payout ratio (DPR) is presently 75.08%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on EQR shares. Piper Sandler cut shares of Equity Residential from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $78.00 to $70.00 in a research report on Wednesday, July 20th. Barclays dropped their price target on Equity Residential from $97.00 to $83.00 in a report on Tuesday, May 10th. TheStreet downgraded Equity Residential from a “b” rating to a “c+” rating in a research note on Friday, May 6th. Jefferies Financial Group lowered their target price on Equity Residential from $78.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Finally, Morgan Stanley cut their price target on shares of Equity Residential from $78.50 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.18.
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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
- Get a free copy of the StockNews.com research report on Equity Residential (EQR)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.