KLP Kapitalforvaltning AS Buys New Stake in Equity Residential (NYSE:EQR)

KLP Kapitalforvaltning AS bought a new stake in Equity Residential (NYSE:EQR) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 249,394 shares of the real estate investment trust’s stock, valued at approximately $17,897,000. KLP Kapitalforvaltning AS owned 0.07% of Equity Residential at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC increased its holdings in Equity Residential by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 32,359 shares of the real estate investment trust’s stock worth $2,322,000 after acquiring an additional 10,235 shares in the last quarter. Summit Global Investments purchased a new stake in Equity Residential in the 4th quarter worth $714,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Equity Residential by 39.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 195,479 shares of the real estate investment trust’s stock worth $14,028,000 after acquiring an additional 55,129 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Equity Residential by 7.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 187,126 shares of the real estate investment trust’s stock worth $13,428,000 after acquiring an additional 13,656 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Equity Residential by 3.2% in the 4th quarter. Xponance Inc. now owns 52,556 shares of the real estate investment trust’s stock worth $3,771,000 after acquiring an additional 1,615 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $309,425.64. Following the transaction, the chief financial officer now owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $683,728.09. Following the completion of the transaction, the chief operating officer now directly owns 26,781 shares in the company, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock valued at $1,424,217 over the last 90 days. 1.00% of the stock is owned by insiders.

Equity Residential Trading Down 0.5 %

Shares of EQR stock opened at $69.85 on Monday. The company’s 50-day moving average price is $70.79 and its 200-day moving average price is $72.62. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The stock has a market cap of $26.52 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 3.99 and a beta of 0.91. Equity Residential has a twelve month low of $59.48 and a twelve month high of $78.84.

Equity Residential Increases Dividend

The company also recently declared 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 is a boost from Equity Residential’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 annualized dividend and a dividend yield of 3.97%. Equity Residential’s payout ratio is presently 101.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EQR shares. Wells Fargo & Company cut their price target 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. Scotiabank boosted their price target on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Barclays cut their price target 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 raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Finally, Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a report on Tuesday, February 4th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and an average price target 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.