Equity Residential (NYSE:EQR) Position Cut by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its holdings in Equity Residential (NYSE:EQR) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366 shares of the real estate investment trust’s stock after selling 222 shares during the quarter. Sentry Investment Management LLC’s holdings in Equity Residential were worth $98,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Equity Residential in the third quarter worth approximately $29,000. Assetmark Inc. lifted its position in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares during the period. Brooklyn Investment Group acquired a new stake in Equity Residential in the third quarter worth approximately $33,000. Continuum Advisory LLC acquired a new stake in Equity Residential in the third quarter worth approximately $40,000. Finally, Grove Bank & Trust lifted its position in Equity Residential by 208.1% in the fourth quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 412 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Trading Down 0.2 %

NYSE EQR opened at $72.80 on Thursday. Equity Residential has a 1-year low of $58.93 and a 1-year high of $78.83. 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 $27.64 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 3.99 and a beta of 0.93. The firm’s fifty day simple moving average is $70.47 and its 200-day simple moving average is $72.83.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is presently 99.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays cut their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Scotiabank upped their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Mizuho cut their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada cut their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Wells Fargo & Company cut their price objective on 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.46.

Insider Transactions at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the 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 directly owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % 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, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now directly owns 26,781 shares in the company, valued at $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by insiders.

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.