Mitsubishi UFJ Trust & Banking Corp Cuts Position in Equity Residential (NYSE:EQR)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Equity Residential (NYSE:EQR) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 311,344 shares of the real estate investment trust’s stock after selling 12,191 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Equity Residential were worth $22,345,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Equity Residential

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the completion of the sale, the chief financial officer now directly owns 14,108 shares in the company, valued at $1,016,622.48. The trade was a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 25,539 shares in the company, 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. Over the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on EQR. Scotiabank lifted their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a report on Tuesday, February 4th. Barclays reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company lowered their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, Mizuho dropped their price target 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. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential has an average rating of “Hold” and a consensus price target of $78.51.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $71.31 on Friday. The company has a 50 day moving average of $70.92 and a 200 day moving average of $72.55. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The stock has a market cap of $27.08 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.99 and a beta of 0.91. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84.

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 given a dividend of $0.6925 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, March 31st. Equity Residential’s payout ratio is 101.84%.

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 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.