NEOS Investment Management LLC Buys 4,978 Shares of Equity Residential (NYSE:EQR)

NEOS Investment Management LLC raised its stake in shares of Equity Residential (NYSE:EQR) by 31.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,780 shares of the real estate investment trust’s stock after buying an additional 4,978 shares during the quarter. NEOS Investment Management LLC’s holdings in Equity Residential were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EQR. Principal Financial Group Inc. boosted its stake in Equity Residential by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after purchasing an additional 591,866 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Equity Residential by 79.9% in the third quarter. Cerity Partners LLC now owns 8,950 shares of the real estate investment trust’s stock worth $667,000 after buying an additional 3,975 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Equity Residential in the third quarter worth approximately $33,000. Townsquare Capital LLC purchased a new stake in shares of Equity Residential during the third quarter valued at approximately $339,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Equity Residential by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 220,131 shares of the real estate investment trust’s stock valued at $16,391,000 after acquiring an additional 2,827 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Price Performance

NYSE EQR opened at $71.38 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 3.99 and a beta of 0.91. The company’s 50 day moving average is $70.95 and its two-hundred day moving average is $72.49.

Equity Residential Increases Dividend

The company 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 represents a $2.77 annualized dividend and a dividend yield of 3.88%. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 31st. Equity Residential’s dividend payout ratio (DPR) is presently 101.84%.

Insider Activity at Equity Residential

In related news, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the sale, the executive vice president now owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQR has been the topic of several analyst reports. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a report on Tuesday, February 4th. Scotiabank lifted their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. 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, Truist Financial lifted their price target on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.51.

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.