DnB Asset Management AS Grows Position in Equity Residential (NYSE:EQR)

DnB Asset Management AS lifted its stake in Equity Residential (NYSE:EQR) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,532 shares of the real estate investment trust’s stock after buying an additional 373 shares during the quarter. DnB Asset Management AS’s holdings in Equity Residential were worth $4,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. raised its stake in Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 310 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential during the 3rd quarter valued at $29,000. Brooklyn Investment Group bought a new position in Equity Residential in the 3rd quarter worth $33,000. Continuum Advisory LLC purchased a new stake in Equity Residential in the 3rd quarter worth $40,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Equity Residential by 109.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the transaction, the executive vice president now owns 35,507 shares in the company, valued at $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by company insiders.

Equity Residential Stock Up 0.2 %

Shares of NYSE:EQR opened at $71.38 on Monday. 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 50 day simple moving average of $70.95 and a two-hundred day simple moving average of $72.47. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84. The firm has a market capitalization of $27.10 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The firm also recently announced 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 of this dividend is Monday, March 31st. Equity Residential’s dividend payout ratio (DPR) is 101.84%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays reduced their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Scotiabank upped their target price on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Evercore ISI lifted their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $78.51.

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.