Elo Mutual Pension Insurance Co Buys 3,757 Shares of Equity Residential (NYSE:EQR)

Elo Mutual Pension Insurance Co lifted its stake in shares of Equity Residential (NYSE:EQR) by 12.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,053 shares of the real estate investment trust’s stock after buying an additional 3,757 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Equity Residential were worth $2,444,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vert Asset Management LLC raised its position in shares of Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock worth $10,782,000 after acquiring an additional 10,472 shares in the last quarter. Mission Wealth Management LP bought a new position in Equity Residential in the fourth quarter worth $321,000. Benjamin Edwards Inc. purchased a new position in Equity Residential during the third quarter valued at $923,000. Atomi Financial Group Inc. boosted its holdings in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 284 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Equity Residential by 119.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust’s stock worth $34,714,000 after buying an additional 263,622 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Up 0.2 %

Shares of Equity Residential stock opened at $71.38 on Friday. Equity Residential has a twelve month low of $59.48 and a twelve month 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 company’s 50 day moving average is $70.95 and its 200 day moving average is $72.49. The company has a market cap 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.

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 paid a $0.6925 dividend. 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 dividend yield of 3.88%. The ex-dividend date is Monday, March 31st. Equity Residential’s dividend payout ratio (DPR) is 101.84%.

Insider Buying and Selling

In related news, CAO Ian Kaufman sold 642 shares of the business’s 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 $46,262.52. Following the completion of the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the company’s 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 directly owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EQR shares. Barclays lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Truist Financial raised their price objective on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Mizuho dropped their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Evercore ISI increased their target price on 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently 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.