DnB Asset Management AS Raises Holdings in Equity Residential (NYSE:EQR)

DnB Asset Management AS boosted its stake in shares of Equity Residential (NYSE:EQR) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,532 shares of the real estate investment trust’s stock after acquiring an additional 373 shares during the quarter. DnB Asset Management AS’s holdings in Equity Residential were worth $4,487,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. SRS Capital Advisors Inc. grew its stake in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Equity Residential in the third quarter valued at $29,000. Brooklyn Investment Group acquired a new position in shares of Equity Residential in the third quarter worth about $33,000. Continuum Advisory LLC purchased a new stake in shares of Equity Residential during the 3rd quarter worth about $40,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equity Residential

In other news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the sale, the chief operating officer now owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. The trade was a 26.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 in the last ninety days. 1.00% of the stock is owned by insiders.

Equity Residential Stock Up 0.2 %

Shares of EQR opened at $71.38 on Monday. 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. The stock has a fifty day simple moving average of $70.95 and a two-hundred day simple moving average of $72.47. The company has a market capitalization of $27.10 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. The ex-dividend date is Monday, March 31st. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a yield of 3.88%. Equity Residential’s payout ratio is 101.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank increased their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Barclays decreased their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Mizuho decreased their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Ten equities 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, Equity Residential presently has an average rating of “Hold” and a consensus target price of $78.51.

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.