Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stock Holdings in Equity Residential (NYSE:EQR)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Equity Residential (NYSE:EQR) by 31.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 60,166 shares of the real estate investment trust’s stock after selling 27,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Equity Residential were worth $4,318,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in Equity Residential in the third quarter valued at $29,000. Assetmark Inc. grew its holdings in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the 3rd quarter valued at about $33,000. Continuum Advisory LLC acquired a new position in shares of Equity Residential during the 3rd quarter valued at about $40,000. Finally, Grove Bank & Trust lifted its holdings in shares of Equity Residential by 208.1% during the 4th quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 412 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 1.0 %

EQR opened at $72.97 on Wednesday. The firm has a market capitalization of $27.71 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.99 and a beta of 0.93. The firm’s 50 day moving average is $70.42 and its 200-day moving average is $72.83. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 52-week low of $58.81 and a 52-week high of $78.83.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were issued a $0.675 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.70%. Equity Residential’s dividend payout ratio is currently 99.26%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQR. Mizuho lowered their target price on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a research note on Tuesday, February 4th. Scotiabank increased their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Finally, Barclays dropped their price target 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. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus target price of $78.46.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. This trade represents a 26.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the transaction, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock valued at $1,424,217 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.