Perigon Wealth Management LLC Sells 307 Shares of Equity Residential (NYSE:EQR)

Perigon Wealth Management LLC reduced its position in shares of Equity Residential (NYSE:EQRFree Report) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,170 shares of the real estate investment trust’s stock after selling 307 shares during the quarter. Perigon Wealth Management LLC’s holdings in Equity Residential were worth $2,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Equity Residential during the second quarter worth $24,600,000. Achmea Investment Management B.V. raised its position in shares of Equity Residential by 17.7% in the second quarter. Achmea Investment Management B.V. now owns 48,650 shares of the real estate investment trust’s stock valued at $3,210,000 after purchasing an additional 7,321 shares during the period. Arizona State Retirement System raised its position in shares of Equity Residential by 5.0% in the second quarter. Arizona State Retirement System now owns 102,891 shares of the real estate investment trust’s stock valued at $6,788,000 after purchasing an additional 4,863 shares during the period. Signaturefd LLC raised its position in shares of Equity Residential by 20.3% in the second quarter. Signaturefd LLC now owns 4,109 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 693 shares during the period. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Equity Residential in the second quarter valued at about $61,000. 84.79% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman David J. Neithercut sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $58.18, for a total value of $1,454,500.00. Following the sale, the chairman now directly owns 3,392 shares in the company, valued at approximately $197,346.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.69% of the stock is currently owned by corporate insiders.

Equity Residential Price Performance

Equity Residential stock traded up $0.37 during trading hours on Friday, reaching $62.16. 2,280,821 shares of the stock were exchanged, compared to its average volume of 1,932,056. The company has a market cap of $23.60 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.67. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45. The stock has a 50 day moving average of $58.76 and a two-hundred day moving average of $61.38.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $0.6625 dividend. The ex-dividend date was Friday, December 29th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.26%. Equity Residential’s payout ratio is currently 147.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EQR. Evercore ISI dropped their price objective on shares of Equity Residential from $70.00 to $66.00 in a research report on Monday, October 9th. StockNews.com began coverage on shares of Equity Residential in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Equity Residential from $71.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Mizuho raised their price target on shares of Equity Residential from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wedbush initiated coverage on shares of Equity Residential in a research report on Tuesday, October 3rd. They set a “neutral” rating and a $62.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.27.

View Our Latest Analysis on Equity Residential

Equity Residential Company Profile

(Free Report)

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.

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

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