Pictet Asset Management Holding SA Sells 1,707 Shares of Equity Residential (NYSE:EQR)

Pictet Asset Management Holding SA lessened its holdings in shares of Equity Residential (NYSE:EQR) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,094,223 shares of the real estate investment trust’s stock after selling 1,707 shares during the period. Pictet Asset Management Holding SA owned 0.29% of Equity Residential worth $78,521,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Equity Residential during the 4th quarter worth about $2,493,426,000. State Street Corp raised its stake in shares of Equity Residential by 1.4% in 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 acquiring an additional 321,002 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Equity Residential by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock worth $694,441,000 after acquiring an additional 132,638 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Equity Residential by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust’s stock worth $566,749,000 after purchasing an additional 152,248 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Equity Residential by 806.4% during 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 purchasing an additional 3,789,234 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a report on Tuesday, February 4th. Scotiabank upped their price target on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Barclays lowered their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Finally, Truist Financial raised their target price on shares of Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.51.

Equity Residential Stock Up 0.2 %

Shares of Equity Residential stock opened at $71.38 on Friday. The company has a market capitalization of $27.10 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. 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 business has a 50-day moving average of $70.95 and a two-hundred day moving average of $72.49. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84.

Equity Residential Increases Dividend

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

Insider Buying and Selling at Equity Residential

In related news, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value 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. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Fenster sold 5,340 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 $384,800.40. Following the transaction, the executive vice president now owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by corporate insiders.

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.