Quadrant Capital Group LLC Cuts Stock Holdings in Equity Residential (NYSE:EQR)

Quadrant Capital Group LLC lessened its holdings in Equity Residential (NYSE:EQR) by 42.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 646 shares of the real estate investment trust’s stock after selling 476 shares during the quarter. Quadrant Capital Group LLC’s holdings in Equity Residential were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Equity Residential by 8.3% in the third 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 buying an additional 591,866 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Equity Residential by 39.6% during the 3rd quarter. HighTower Advisors LLC now owns 16,795 shares of the real estate investment trust’s stock worth $1,245,000 after purchasing an additional 4,764 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Equity Residential during the 3rd quarter worth $40,000. Toronto Dominion Bank increased its holdings in shares of Equity Residential by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 169,906 shares of the real estate investment trust’s stock valued at $12,651,000 after purchasing an additional 795 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of Equity Residential by 69.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,752 shares of the real estate investment trust’s stock valued at $1,573,000 after purchasing an additional 8,534 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Fenster sold 5,340 shares of the business’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 sale, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. This trade represents a 2.45 % 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 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

EQR has been the topic of several recent analyst reports. Truist Financial upped their target price on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Scotiabank boosted their target price 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. Evercore ISI raised their price target on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Finally, Barclays cut their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average target price of $78.51.

Equity Residential Trading Up 0.5 %

NYSE EQR opened at $64.62 on Friday. The company has a market cap of $24.54 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.99 and a beta of 0.85. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.84. 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 company has a 50-day moving average of $70.17 and a 200-day moving average of $71.64.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.6925 per share. This is a positive change 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 yield of 4.29%. Equity Residential’s dividend payout ratio is 101.84%.

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.