Los Angeles Capital Management LLC Reduces Stock Position in Equity Residential (NYSE:EQR)

Los Angeles Capital Management LLC lessened its stake in Equity Residential (NYSE:EQR) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,724,342 shares of the real estate investment trust’s stock after selling 225,131 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Equity Residential were worth $123,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EQR. Creative Planning lifted its holdings in shares of Equity Residential by 7.9% in the 3rd quarter. Creative Planning now owns 17,957 shares of the real estate investment trust’s stock valued at $1,337,000 after buying an additional 1,310 shares during the period. Raymond James & Associates lifted its holdings in shares of Equity Residential by 1.9% in the 3rd quarter. Raymond James & Associates now owns 193,013 shares of the real estate investment trust’s stock valued at $14,372,000 after buying an additional 3,684 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Equity Residential by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,060 shares of the real estate investment trust’s stock worth $1,270,000 after purchasing an additional 855 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Equity Residential in the 3rd quarter worth about $200,000. Finally, International Assets Investment Management LLC acquired a new position in Equity Residential in the 3rd quarter worth about $2,233,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

EQR has been the subject of a number of analyst reports. Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company reduced their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Scotiabank upped their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Evercore ISI increased their target price on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reduced their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.46.

Equity Residential Trading Up 0.9 %

Shares of Equity Residential stock opened at $72.20 on Tuesday. The firm has a market capitalization of $27.41 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 3.99 and a beta of 0.93. Equity Residential has a fifty-two week low of $58.81 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average of $70.42 and a 200 day moving average of $72.82.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is 99.26%.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the company’s 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 transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. This trade represents a 26.16 % 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 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.