Corebridge Financial Inc. Sells 3,889 Shares of Equity Residential (NYSE:EQR)

Corebridge Financial Inc. cut its holdings in shares of Equity Residential (NYSE:EQR) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,095 shares of the real estate investment trust’s stock after selling 3,889 shares during the period. Corebridge Financial Inc.’s holdings in Equity Residential were worth $5,819,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Equity Residential in the third quarter worth about $29,000. Brooklyn Investment Group acquired a new stake in shares of Equity Residential in the 3rd quarter valued at approximately $33,000. Continuum Advisory LLC bought a new stake in shares of Equity Residential during the 3rd quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC increased its position in Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analysts Set New Price Targets

EQR has been the topic of a number of research analyst reports. Evercore ISI raised their target price on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Mizuho reduced their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Stifel Nicolaus set a $82.25 target price on Equity Residential in a report on Tuesday, February 4th. Wells Fargo & Company cut their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus target price of $78.51.

Insider Buying and Selling at Equity Residential

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

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $71.38 on Friday. The business has a 50-day moving average price of $70.95 and a two-hundred day moving average price of $72.49. 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 company has a market cap of $27.10 billion, a P/E ratio of 26.24, a PEG ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The firm 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 $0.6925 dividend. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. 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. Equity Residential’s payout ratio is presently 101.84%.

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.