Fisher Funds Management LTD Invests $2.21 Million in Equity Residential (NYSE:EQR)

Fisher Funds Management LTD bought a new stake in Equity Residential (NYSE:EQR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,915 shares of the real estate investment trust’s stock, valued at approximately $2,206,000.

A number of other large investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Equity Residential by 25.3% in the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 146 shares in the last quarter. Modera Wealth Management LLC increased its position in shares of Equity Residential by 6.5% during the third quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 200 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in shares of Equity Residential by 3.3% in the third quarter. Carmel Capital Partners LLC now owns 6,329 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 205 shares in the last quarter. Smithfield Trust Co boosted its holdings in Equity Residential by 20.9% in the third quarter. Smithfield Trust Co now owns 1,209 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 209 shares during the last quarter. Finally, Greenleaf Trust grew its stake in Equity Residential by 7.4% during the 4th quarter. Greenleaf Trust now owns 3,696 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 256 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Down 0.1 %

NYSE:EQR opened at $71.56 on Monday. The firm has a market capitalization of $27.17 billion, a P/E ratio of 26.31, a P/E/G ratio of 3.99 and a beta of 0.93. The business has a 50 day simple moving average of $70.44 and a 200 day simple moving average of $72.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. Equity Residential has a 12-month low of $58.81 and a 12-month high of $78.83.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.675 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.77%. Equity Residential’s dividend payout ratio is currently 99.26%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on EQR shares. Wells Fargo & Company cut their target price 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. Royal Bank of Canada cut their price target 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. Barclays decreased their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Finally, Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research report on Tuesday, February 4th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.46.

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.