QRG Capital Management Inc. Boosts Stock Position in Equity Residential (NYSE:EQR)

QRG Capital Management Inc. boosted its position in shares of Equity Residential (NYSE:EQR) by 55.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,366 shares of the real estate investment trust’s stock after acquiring an additional 60,942 shares during the quarter. QRG Capital Management Inc.’s holdings in Equity Residential were worth $12,297,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EQR. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential in the third quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in Equity Residential during the 3rd quarter worth approximately $33,000. Assetmark Inc. boosted its position 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 buying an additional 430 shares during the period. Continuum Advisory LLC acquired a new position in shares of Equity Residential in the third quarter worth $40,000. Finally, Grove Bank & Trust increased its position in shares of Equity Residential by 208.1% during the fourth quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 412 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $73.69 on Friday. Equity Residential has a one year low of $59.02 and a one year high of $78.83. The stock has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 3.99 and a beta of 0.93. The company has a 50-day simple moving average of $70.56 and a 200-day simple moving average of $72.84. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.66%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio is presently 99.26%.

Wall Street Analyst Weigh In

EQR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Barclays decreased their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Scotiabank upped their target price on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Royal Bank of Canada decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a research report on Tuesday, February 4th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $78.46.

Insiders Place Their Bets

In other Equity Residential news, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the transaction, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction dated 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 approximately $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by company insiders.

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.