AIA Group Ltd Sells 19,245 Shares of Equity Residential (NYSE:EQR)

AIA Group Ltd trimmed its holdings in Equity Residential (NYSE:EQRGet Rating) by 88.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after selling 19,245 shares during the period. AIA Group Ltd’s holdings in Equity Residential were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Equity Residential in the 4th quarter valued at $2,729,361,000. State Street Corp increased its position in shares of Equity Residential by 7.6% in the fourth quarter. State Street Corp now owns 23,284,521 shares of the real estate investment trust’s stock worth $2,121,056,000 after purchasing an additional 1,650,178 shares during the period. BlackRock Inc. raised its stake in Equity Residential by 3.8% in the fourth quarter. BlackRock Inc. now owns 39,022,849 shares of the real estate investment trust’s stock valued at $3,531,569,000 after purchasing an additional 1,445,519 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Equity Residential by 59.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,664,676 shares of the real estate investment trust’s stock worth $331,653,000 after purchasing an additional 1,367,484 shares during the period. Finally, Schroder Investment Management Group grew its stake in Equity Residential by 2,070.4% during the fourth quarter. Schroder Investment Management Group now owns 886,397 shares of the real estate investment trust’s stock worth $80,219,000 after buying an additional 845,556 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $75.22 on Friday. The firm has a market cap of $28.29 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 3.20 and a beta of 0.81. The firm’s fifty day moving average is $73.08 and its 200-day moving average is $81.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.24. Equity Residential has a 52 week low of $67.48 and a 52 week high of $94.32.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Monday, June 27th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, June 24th. Equity Residential’s dividend payout ratio is currently 75.08%.

Insiders Place Their Bets

In other news, Director Mark S. Shapiro sold 6,665 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. Following the completion of the transaction, the director now directly owns 12,497 shares in the company, valued at $876,039.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the subject of several analyst reports. Credit Suisse Group began coverage on shares of Equity Residential in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $80.00 target price for the company. Piper Sandler cut Equity Residential from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $78.00 to $70.00 in a research note on Wednesday, July 20th. Royal Bank of Canada raised Equity Residential from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from $95.00 to $79.00 in a report on Wednesday, June 22nd. Barclays lowered their price target on Equity Residential from $97.00 to $83.00 in a report on Tuesday, May 10th. Finally, Mizuho reduced their price objective on Equity Residential from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.18.

Equity Residential Company Profile

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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