Peapack Gladstone Financial Corp Has $284,000 Holdings in Equity Residential (NYSE:EQR)

Peapack Gladstone Financial Corp lessened its stake in Equity Residential (NYSE:EQR) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,958 shares of the real estate investment trust’s stock after selling 834 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equity Residential were worth $284,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EQR. Norges Bank acquired a new stake in shares of Equity Residential in the 4th quarter valued at approximately $2,493,426,000. Principal Financial Group Inc. lifted its holdings in Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock valued at $576,737,000 after purchasing an additional 591,866 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Equity Residential during the 4th quarter valued at $32,664,000. KBC Group NV lifted its holdings in Equity Residential by 100.9% during the 4th quarter. KBC Group NV now owns 691,061 shares of the real estate investment trust’s stock valued at $49,590,000 after purchasing an additional 347,085 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Equity Residential by 20.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,011,368 shares of the real estate investment trust’s stock valued at $144,336,000 after purchasing an additional 345,988 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Buying and Selling at Equity Residential

In related news, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was 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 owns 25,539 shares in the company, valued at approximately $1,840,340.34. This represents 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 this link. Also, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the sale, the chief financial officer now owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Price Performance

Equity Residential stock opened at $66.97 on Thursday. The stock’s 50 day moving average is $70.42 and its 200 day moving average is $71.79. 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 firm has a market cap of $25.43 billion, a P/E ratio of 24.62, a P/E/G ratio of 3.99 and a beta of 0.85. Equity Residential has a one year low of $59.41 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. Investors of record on Monday, March 31st will be paid a $0.6925 dividend. This is a positive change 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 4.14%. The ex-dividend date of this dividend is Monday, March 31st. Equity Residential’s payout ratio is currently 101.84%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Truist Financial raised their price target on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Scotiabank raised their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Mizuho decreased their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.