UniSuper Management Pty Ltd Has $10.28 Million Position in Equity Residential (NYSE:EQR)

UniSuper Management Pty Ltd raised its stake in Equity Residential (NYSE:EQR) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,221 shares of the real estate investment trust’s stock after acquiring an additional 8,137 shares during the period. UniSuper Management Pty Ltd’s holdings in Equity Residential were worth $10,278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position in Equity Residential by 1.4% during the third quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust’s stock worth $1,796,976,000 after purchasing an additional 321,002 shares during the period. Geode Capital Management LLC raised its position in shares of Equity Residential by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock valued at $694,441,000 after buying an additional 132,638 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equity Residential by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust’s stock worth $566,749,000 after acquiring an additional 152,248 shares during the period. FMR LLC lifted its holdings in shares of Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after acquiring an additional 1,741,840 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equity Residential by 806.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock valued at $317,136,000 after acquiring an additional 3,789,234 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the sale, the chief financial officer now owns 14,108 shares of the company’s stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is currently owned by insiders.

Equity Residential Trading Down 0.4 %

Shares of EQR stock opened at $71.31 on Friday. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. 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 $27.08 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.99 and a beta of 0.91. The stock has a 50-day moving average of $70.92 and a 200-day moving average of $72.55.

Equity Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio is currently 101.84%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQR. Barclays cut their target price 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. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a research note on Tuesday, February 4th. Truist Financial boosted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Evercore ISI raised their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.51.

Equity Residential 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.