NEOS Investment Management LLC Grows Position in Equity Residential (NYSE:EQR)

NEOS Investment Management LLC raised its position in shares of Equity Residential (NYSE:EQR) by 31.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,780 shares of the real estate investment trust’s stock after acquiring an additional 4,978 shares during the period. NEOS Investment Management LLC’s holdings in Equity Residential were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential in the 3rd quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in shares of Equity Residential during the 3rd quarter valued at about $33,000. Continuum Advisory LLC bought a new position in shares of Equity Residential in the 3rd quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC grew its position in Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 156 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Insider Activity at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the sale, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 over the last three months. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EQR. Mizuho decreased their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company decreased their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Barclays cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Evercore ISI raised their target price on shares of Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.51.

Equity Residential Stock Up 0.2 %

Shares of NYSE:EQR opened at $71.38 on Friday. The business’s 50 day moving average is $70.95 and its 200 day moving average is $72.49. The stock has a market cap of $27.10 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 3.88%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio (DPR) is currently 101.84%.

About Equity Residential

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.