Nisa Investment Advisors LLC Sells 9,460 Shares of Equity Residential (NYSE:EQR)

Nisa Investment Advisors LLC cut its stake in shares of Equity Residential (NYSE:EQR) by 5.7% in the fourth quarter, HoldingsChannel reports. The fund owned 156,567 shares of the real estate investment trust’s stock after selling 9,460 shares during the period. Nisa Investment Advisors LLC’s holdings in Equity Residential were worth $11,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new position in shares of Equity Residential in the third quarter worth approximately $923,000. Tidal Investments LLC boosted its holdings in Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after buying an additional 14,109 shares during the period. Public Sector Pension Investment Board increased its stake in Equity Residential by 18.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock worth $3,328,000 after buying an additional 7,549 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Equity Residential by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock valued at $298,461,000 after acquiring an additional 124,795 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its position in shares of Equity Residential by 466.8% in the third quarter. Landscape Capital Management L.L.C. now owns 18,574 shares of the real estate investment trust’s stock valued at $1,383,000 after acquiring an additional 15,297 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Price Performance

Equity Residential stock opened at $68.21 on Friday. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $72.20 and a 200-day moving average price of $72.62. The firm has a market capitalization of $25.88 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 5.50 and a beta of 0.93.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.675 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.96%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EQR shares. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Scotiabank lowered their target price on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada cut their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Mizuho decreased their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Barclays assumed coverage on Equity Residential in a research report on Tuesday, December 17th. They set an “overweight” rating and a $83.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.69.

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.