American International Group Inc. lessened its stake in Equity Residential (NYSE:EQR) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,649 shares of the real estate investment trust’s stock after selling 6,478 shares during the quarter. American International Group Inc.’s holdings in Equity Residential were worth $9,614,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQR. Altshuler Shaham Ltd bought a new stake in Equity Residential during the 4th quarter valued at $25,000. Rational Advisors LLC bought a new stake in Equity Residential during the 4th quarter valued at $31,000. Braun Bostich & Associates Inc. raised its holdings in Equity Residential by 38.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 142 shares during the period. Enlightenment Research LLC bought a new stake in Equity Residential during the 4th quarter valued at $40,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in Equity Residential by 6,420.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,632,545 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 2,592,169 shares during the period. 87.63% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Michael L. Manelis sold 13,334 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $73.75, for a total transaction of $983,382.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Neithercut sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $74.52, for a total transaction of $3,726,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 220,195 shares of company stock valued at $16,160,775 over the last 90 days. Company insiders own 3.75% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Argus boosted their target price on shares of Equity Residential to $80.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Morgan Stanley boosted their target price on shares of Equity Residential from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 17th. JPMorgan Chase & Co. raised shares of Equity Residential from a “neutral” rating to an “overweight” rating in a report on Wednesday, December 19th. Finally, BMO Capital Markets reissued a “hold” rating and set a $69.00 target price on shares of Equity Residential in a report on Tuesday, January 29th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.33.

EQR opened at $74.76 on Friday. The firm has a market cap of $27.66 billion, a PE ratio of 23.00, a PEG ratio of 3.74 and a beta of 0.59. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.85. Equity Residential has a one year low of $57.96 and a one year high of $75.65.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). The firm had revenue of $652.55 million for the quarter, compared to analysts’ expectations of $652.35 million. Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Sell-side analysts forecast that Equity Residential will post 3.4 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, March 25th will be given a dividend of $0.5675 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 22nd. Equity Residential’s payout ratio is 66.46%.

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About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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