LGT Capital Partners LTD. reduced its holdings in shares of Equity Residential (NYSE:EQR) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,520 shares of the real estate investment trust’s stock after selling 20,500 shares during the quarter. LGT Capital Partners LTD.’s holdings in Equity Residential were worth $5,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EQR. Stelac Advisory Services LLC acquired a new position in shares of Equity Residential during the third quarter valued at about $120,000. Bbva Compass Bancshares Inc. purchased a new position in Equity Residential during the third quarter worth about $137,000. Advisor Partners LLC purchased a new position in Equity Residential during the third quarter worth about $218,000. Keybank National Association OH purchased a new position in Equity Residential during the third quarter worth about $218,000. Finally, Parametrica Management Ltd purchased a new position in Equity Residential during the third quarter worth about $231,000. Hedge funds and other institutional investors own 87.35% of the company’s stock.

In other Equity Residential news, President Mark J. Parrell sold 37,294 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $67.60, for a total value of $2,521,074.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alan W. George sold 12,916 shares of the business’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $72.02, for a total transaction of $930,210.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 355,482 shares of company stock worth $24,791,835. Corporate insiders own 3.75% of the company’s stock.

EQR traded down $0.16 during midday trading on Monday, reaching $67.39. The company had a trading volume of 4,978 shares, compared to its average volume of 1,535,588. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.85. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 3.20 and a beta of 0.49. Equity Residential has a 12-month low of $54.97 and a 12-month high of $72.75.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.23). The company had revenue of $652.87 million during the quarter, compared to analysts’ expectations of $645.77 million. Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. As a group, sell-side analysts anticipate that Equity Residential will post 3.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Wednesday, January 2nd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, December 31st. Equity Residential’s payout ratio is 69.01%.

Several research analysts recently weighed in on EQR shares. Scotiabank started coverage on shares of Equity Residential in a report on Tuesday, October 16th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upgraded shares of Equity Residential from a “neutral” rating to an “overweight” rating in a report on Wednesday, December 19th. Morgan Stanley boosted their price target on shares of Equity Residential from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, December 17th. Zacks Investment Research cut shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Finally, Argus boosted their price target on shares of Equity Residential from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Equity Residential has a consensus rating of “Hold” and a consensus price target of $69.41.

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Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

Further Reading: Quiet Period

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

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