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

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

Other hedge funds also recently modified their holdings of the company. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Equity Residential in the 3rd quarter valued at about $29,000. Assetmark Inc. boosted its stake in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Equity Residential in the 3rd quarter valued at about $33,000. Finally, Continuum Advisory LLC bought a new position in Equity Residential during the 3rd quarter worth approximately $40,000. Institutional investors own 92.68% of the company’s stock.

Insider Activity at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ian Kaufman sold 642 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 $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock valued at $1,424,217 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Equity Residential Stock Down 0.4 %

EQR stock opened at $71.23 on Monday. The company has a market cap of $27.03 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93. The business has a 50-day simple moving average of $70.64 and a 200 day simple moving average of $72.75. Equity Residential has a 52 week low of $58.81 and a 52 week high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EQR shares. Wells Fargo & Company reduced their price objective 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. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Barclays dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Evercore ISI raised their target price on shares of Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.42.

About Equity Residential

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.