Equity Residential (NYSE:EQR) Shares Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its stake in Equity Residential (NYSE:EQR) by 8.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,017 shares of the real estate investment trust’s stock after purchasing an additional 2,150 shares during the quarter. Twin Capital Management Inc.’s holdings in Equity Residential were worth $1,705,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Equity Residential in the fourth quarter worth $2,143,388,000. APG Asset Management US Inc. raised its stake in Equity Residential by 0.6% in the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock worth $709,349,000 after acquiring an additional 71,716 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Equity Residential by 5.9% during the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock worth $570,333,000 after acquiring an additional 516,941 shares during the period. Centersquare Investment Management LLC grew its stake in Equity Residential by 5.9% during the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after purchasing an additional 309,796 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Equity Residential by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,837,945 shares of the real estate investment trust’s stock valued at $234,729,000 after purchasing an additional 97,212 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQR has been the subject of a number of research reports. BMO Capital Markets raised Equity Residential from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Monday, April 22nd. Truist Financial upped their price objective on shares of Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 24th. Wedbush reissued a “neutral” rating and set a $68.00 target price on shares of Equity Residential in a report on Monday, April 29th. Scotiabank boosted their target price on shares of Equity Residential from $65.00 to $72.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Finally, Mizuho increased their price target on Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.53.

Insider Activity at Equity Residential

In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the sale, the director now directly owns 9,720 shares in the company, valued at approximately $636,465.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the transaction, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Price Performance

Shares of EQR stock traded down $0.85 during trading hours on Wednesday, hitting $70.01. 1,661,651 shares of the company’s stock were exchanged, compared to its average volume of 1,931,380. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $71.40. The firm has a market cap of $26.57 billion, a P/E ratio of 29.05, a P/E/G ratio of 4.08 and a beta of 0.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $67.27 and a two-hundred day moving average of $63.80.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million during the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Sell-side analysts forecast that Equity Residential will post 3.87 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.675 per share. The ex-dividend date was Monday, July 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.86%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

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.