Ilmarinen Mutual Pension Insurance Co trimmed its position in shares of Equity Residential (NYSE:EQR – Free Report) by 29.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 199,333 shares of the real estate investment trust’s stock after selling 84,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co owned about 0.05% of Equity Residential worth $11,960,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of EQR. Securian Asset Management Inc. boosted its stake in Equity Residential by 0.6% during the 1st quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock valued at $1,688,000 after purchasing an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Equity Residential by 28.3% during the first quarter. EverSource Wealth Advisors LLC now owns 879 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 194 shares during the period. Glassman Wealth Services increased its position in Equity Residential by 41.6% in the first 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 in the last quarter. Moody National Bank Trust Division grew its stake in shares of Equity Residential by 2.5% during the 1st quarter. Moody National Bank Trust Division now owns 8,400 shares of the real estate investment trust’s stock valued at $504,000 after acquiring an additional 206 shares during the period. Finally, Firethorn Wealth Partners LLC increased its stake in shares of Equity Residential by 5.9% in the first quarter. Firethorn Wealth Partners LLC now owns 3,792 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 210 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors.
Insider Activity at Equity Residential
In other Equity Residential news, COO Michael L. Manelis sold 2,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $66.04, for a total transaction of $165,100.00. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is owned by company insiders.
Equity Residential Stock Performance
Equity Residential Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were given a dividend of $0.6625 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, June 23rd. Equity Residential’s dividend payout ratio (DPR) is presently 119.91%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Piper Sandler raised Equity Residential from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $68.00 in a research note on Friday, June 9th. JPMorgan Chase & Co. lifted their price target on shares of Equity Residential from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, August 21st. Truist Financial increased their price objective on shares of Equity Residential from $71.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 14th. StockNews.com initiated coverage on Equity Residential in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, TheStreet raised Equity Residential from a “c+” rating to a “b-” rating in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.94.
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 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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