Allstate Corp Cuts Stock Position in Equity Residential (NYSE:EQR)

Allstate Corp decreased its stake in shares of Equity Residential (NYSE:EQR) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,059 shares of the real estate investment trust’s stock after selling 8,570 shares during the quarter. Allstate Corp’s holdings in Equity Residential were worth $5,386,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its holdings in shares of 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 acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential during the 3rd quarter valued at about $29,000. Brooklyn Investment Group bought a new stake in Equity Residential during the 3rd quarter valued at about $33,000. Continuum Advisory LLC purchased a new position in Equity Residential in the third quarter worth about $40,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Equity Residential by 109.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.2 %

NYSE:EQR opened at $71.38 on Friday. The firm has a market capitalization of $27.10 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The business has a fifty day moving average price of $70.95 and a 200-day moving average price of $72.53. Equity Residential has a one year low of $59.48 and a one year high of $78.84.

Equity Residential Increases Dividend

The business also recently disclosed 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 boost 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 presently 101.84%.

Insider Activity at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the transaction, the executive vice president now directly owns 35,507 shares in the company, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ian Kaufman sold 642 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 value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQR. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research report on Tuesday, February 4th. Scotiabank upped their price target on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Mizuho reduced their price objective 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 lowered 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 note on Friday, January 24th. Finally, Evercore ISI lifted their price target on shares of Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Equity Residential presently has an average rating of “Hold” and an average price target of $78.51.

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.