Equity Residential (NYSE:EQR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Equity Residential (NYSE:EQR) by 4.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,221 shares of the real estate investment trust’s stock after buying an additional 2,404 shares during the period. CIBC Asset Management Inc’s holdings in Equity Residential were worth $3,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of Equity Residential by 25.3% during the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 146 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in Equity Residential by 6.5% in the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 200 shares in the last quarter. Carmel Capital Partners LLC lifted its holdings in Equity Residential by 3.3% in the 3rd quarter. Carmel Capital Partners LLC now owns 6,329 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 205 shares in the last quarter. Smithfield Trust Co lifted its holdings in Equity Residential by 20.9% in the 3rd quarter. Smithfield Trust Co now owns 1,209 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 209 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in Equity Residential by 7.4% in the 4th quarter. Greenleaf Trust now owns 3,696 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Activity at Equity Residential

In related news, CAO Ian Kaufman sold 642 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 transaction of $46,262.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 in the last three months. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EQR has been the topic of a number of research reports. Scotiabank raised their price objective on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a 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. Barclays decreased their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada decreased their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Wells Fargo & Company cut their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.42.

Equity Residential Stock Up 0.8 %

Shares of NYSE:EQR opened at $71.66 on Friday. The business has a 50-day moving average price of $70.48 and a 200 day moving average price of $72.76. 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 capitalization of $27.21 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.97 and a beta of 0.93. Equity Residential has a 12-month low of $58.81 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is 99.26%.

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.