Pictet Asset Management Holding SA Has $78.52 Million Position in Equity Residential (NYSE:EQR)

Pictet Asset Management Holding SA lessened its stake in shares of Equity Residential (NYSE:EQR) by 0.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,094,223 shares of the real estate investment trust’s stock after selling 1,707 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Equity Residential were worth $78,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EQR. Norges Bank bought a new position in Equity Residential in the 4th quarter valued at about $2,493,426,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Equity Residential by 806.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after purchasing an additional 3,789,234 shares during the period. Principal Financial Group Inc. lifted its holdings in Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after purchasing an additional 591,866 shares during the last quarter. Heitman Real Estate Securities LLC boosted its stake in Equity Residential by 2,193.2% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 416,647 shares of the real estate investment trust’s stock valued at $31,024,000 after purchasing an additional 398,478 shares during the period. Finally, KBC Group NV grew its holdings in Equity Residential by 100.9% in the 4th quarter. KBC Group NV now owns 691,061 shares of the real estate investment trust’s stock valued at $49,590,000 after buying an additional 347,085 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the sale, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the sale, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by insiders.

Equity Residential Trading Up 0.2 %

EQR opened at $71.38 on Friday. The company has a market cap of $27.10 billion, a P/E ratio of 26.24, a PEG 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’s 50 day moving average is $70.95 and its 200-day moving average is $72.49. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $0.6925 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a yield of 3.88%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio (DPR) is currently 101.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a report on Tuesday, February 4th. Scotiabank raised their target price on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Wells Fargo & Company cut their price target 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. Finally, Mizuho lowered their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.51.

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.