Natixis Advisors L.P. increased its position in Equity Residential (NYSE:EQR – Free Report) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,078 shares of the real estate investment trust’s stock after purchasing an additional 7,871 shares during the period. Natixis Advisors L.P.’s holdings in Equity Residential were worth $3,844,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Securian Asset Management Inc. boosted its stake in Equity Residential by 0.6% in the 1st quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 167 shares in the last quarter. Glassman Wealth Services raised its position in Equity Residential by 41.6% in the 1st quarter. Glassman Wealth Services now owns 694 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Moody National Bank Trust Division raised its position in Equity Residential by 2.5% in the 1st quarter. Moody National Bank Trust Division now owns 8,400 shares of the real estate investment trust’s stock worth $504,000 after buying an additional 206 shares during the last quarter. Firethorn Wealth Partners LLC raised its position in Equity Residential by 5.9% in the 1st quarter. Firethorn Wealth Partners LLC now owns 3,792 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 210 shares during the last quarter. Finally, United Capital Financial Advisers LLC raised its position in Equity Residential by 0.9% in the 1st quarter. United Capital Financial Advisers LLC now owns 22,740 shares of the real estate investment trust’s stock worth $2,045,000 after buying an additional 212 shares during the last quarter. Institutional investors own 84.79% of the company’s stock.
Insider Activity at Equity Residential
In other Equity Residential news, COO Michael L. Manelis sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $66.04, for a total value of $165,100.00. Following the completion of the transaction, the chief operating officer now directly owns 22,844 shares in the company, valued at approximately $1,508,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is currently owned by corporate insiders.
Equity Residential Trading Down 1.0 %
Equity Residential Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a dividend of $0.6625 per share. The ex-dividend date was Friday, June 23rd. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.09%. Equity Residential’s dividend payout ratio (DPR) is presently 119.91%.
Analyst Upgrades and Downgrades
EQR has been the subject of a number of recent analyst reports. Barclays decreased their target price on Equity Residential from $71.00 to $69.00 in a research report on Wednesday, May 31st. JPMorgan Chase & Co. boosted their target price on Equity Residential from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. Morgan Stanley boosted their target price on Equity Residential from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 19th. Mizuho decreased their target price on Equity Residential from $72.00 to $68.00 in a research report on Friday, May 19th. Finally, Truist Financial upped their price target on shares of Equity Residential from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Equity Residential presently has an average rating of “Hold” and an average price target of $69.53.
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 affluent long-term renters. Equity Residential owns or has investments in 304 properties consisting of 80,212 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.
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