Intech Investment Management LLC Takes Position in Equity Residential (NYSE:EQR)

Intech Investment Management LLC purchased a new position in Equity Residential (NYSE:EQR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,953 shares of the real estate investment trust’s stock, valued at approximately $355,000.

Other large investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Equity Residential in the third quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in Equity Residential in the third quarter worth about $33,000. Continuum Advisory LLC bought a new stake in Equity Residential during the 3rd quarter valued at approximately $40,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

EQR has been the subject of a number of recent research reports. Mizuho lowered their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays dropped their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Evercore ISI upped their price target on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a research note on Tuesday, February 4th. Finally, StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential has an average rating of “Hold” and an average target price of $78.51.

Insiders Place Their Bets

In other news, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now 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 hyperlink. Also, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction on 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 owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % 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. Insiders own 1.00% of the company’s stock.

Equity Residential Trading Down 0.4 %

NYSE:EQR opened at $71.04 on Wednesday. The company has a market cap of $26.97 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. 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 50 day simple moving average of $70.86 and a two-hundred day simple moving average of $72.57. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84.

Equity Residential Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a yield of 3.90%. Equity Residential’s dividend payout ratio is currently 101.84%.

About Equity Residential

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.