Allspring Global Investments Holdings LLC Sells 1,163 Shares of Equity Residential (NYSE:EQR)

Allspring Global Investments Holdings LLC lowered its holdings in Equity Residential (NYSE:EQR) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,897 shares of the real estate investment trust’s stock after selling 1,163 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Equity Residential were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Equity Residential in the 3rd quarter valued at about $29,000. Assetmark Inc. boosted 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 purchasing an additional 430 shares during the period. Brooklyn Investment Group bought a new stake in Equity Residential in the 3rd quarter valued at about $33,000. Continuum Advisory LLC bought a new stake in Equity Residential in the 3rd quarter valued at about $40,000. Finally, Grove Bank & Trust boosted its holdings in Equity Residential by 208.1% in the 4th quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 412 shares during the period. Institutional investors own 92.68% of the company’s stock.

Insider Activity

In other news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction on Thursday, February 6th. The shares were 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 directly owns 26,781 shares in the company, valued at $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction 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. 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 90 days, insiders sold 19,763 shares of company stock valued at $1,424,217. Insiders own 1.00% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $71.56 on Monday. The company has a fifty day moving average price of $70.44 and a 200-day moving average price of $72.81. The company has a market capitalization of $27.17 billion, a P/E ratio of 26.31, a PEG ratio of 3.99 and a beta of 0.93. Equity Residential has a 52-week low of $58.81 and a 52-week high of $78.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s payout ratio is currently 99.26%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EQR shares. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Barclays dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Evercore ISI boosted 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. Finally, Scotiabank boosted their target price on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Eleven 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, the stock currently has an average rating of “Hold” and an average price target of $78.46.

Equity Residential Company 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.