Bokf Na Cuts Stake in Equity Residential (NYSE:EQR)

Bokf Na lowered its stake in shares of Equity Residential (NYSE:EQR) by 36.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,472 shares of the real estate investment trust’s stock after selling 7,103 shares during the period. Bokf Na’s holdings in Equity Residential were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Equity Residential during the 4th quarter valued at about $2,143,388,000. APG Asset Management US Inc. boosted its stake in Equity Residential by 0.6% during the fourth quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock valued at $709,349,000 after buying an additional 71,716 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Equity Residential by 5.9% during the fourth quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock valued at $570,333,000 after buying an additional 516,941 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Equity Residential by 5.9% during the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after buying an additional 309,796 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Equity Residential by 0.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,941,360 shares of the real estate investment trust’s stock worth $311,849,000 after acquiring an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Insider Buying and Selling at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the sale, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Equity Residential from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Mizuho lifted their price objective on shares of Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Truist Financial upped their target price on shares of Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Evercore ISI downgraded shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price target for the company. in a report on Monday, May 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Equity Residential in a research report on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating and seven 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 $69.53.

Equity Residential Trading Up 0.3 %

EQR stock traded up $0.19 during midday trading on Monday, reaching $70.96. The company’s stock had a trading volume of 271,697 shares, compared to its average volume of 1,920,301. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 4.07 and a beta of 0.87. Equity Residential has a 1 year low of $52.57 and a 1 year high of $71.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a fifty day simple moving average of $67.39 and a two-hundred day simple moving average of $63.94.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.70 dividend on an annualized basis and a yield of 3.80%. Equity Residential’s payout ratio is 112.03%.

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.