Chevy Chase Trust Holdings LLC Sells 3,762 Shares of Equity Residential (NYSE:EQR)

Chevy Chase Trust Holdings LLC trimmed its holdings in Equity Residential (NYSE:EQR) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,983 shares of the real estate investment trust’s stock after selling 3,762 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Equity Residential were worth $12,916,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Equity Residential by 1.4% during the 3rd quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust’s stock worth $1,796,976,000 after buying an additional 321,002 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Equity Residential by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock worth $694,441,000 after buying an additional 132,638 shares during the period. FMR LLC boosted its holdings in shares of Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after buying an additional 1,741,840 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after buying an additional 591,866 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equity Residential by 806.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after buying an additional 3,789,234 shares during the period. 92.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the 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 sale, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This represents a 26.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Fenster sold 5,340 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. This represents a 13.07 % 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 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Equity Residential Trading Down 0.4 %

Shares of Equity Residential stock opened at $71.23 on Monday. The stock has a market capitalization of $27.03 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $70.64 and a 200 day simple moving average of $72.75. Equity Residential has a 12-month low of $58.81 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is currently 99.26%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQR. Barclays reduced their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a 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. Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Evercore ISI increased their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.42.

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 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.