Allianz SE Takes Position in Equity Residential (NYSE:EQR)

Allianz SE purchased a new position in Equity Residential (NYSE:EQR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,298 shares of the real estate investment trust’s stock, valued at approximately $308,000.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Equity Residential by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock valued at $576,737,000 after acquiring an additional 591,866 shares in the last quarter. Cerity Partners LLC raised its stake in Equity Residential by 79.9% during the 3rd quarter. Cerity Partners LLC now owns 8,950 shares of the real estate investment trust’s stock valued at $667,000 after purchasing an additional 3,975 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the third quarter valued at $33,000. Townsquare Capital LLC acquired a new stake in shares of Equity Residential in the third quarter worth $339,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Equity Residential by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 220,131 shares of the real estate investment trust’s stock valued at $16,391,000 after buying an additional 2,827 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQR. Wells Fargo & Company reduced their price objective 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. Barclays decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Scotiabank lifted their target price on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research note on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.51.

Equity Residential Stock Up 0.2 %

Shares of Equity Residential stock opened at $71.38 on Monday. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.84. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $70.95 and a two-hundred day moving average price of $72.47. The stock has a market capitalization of $27.10 billion, a P/E ratio of 26.24, a PEG ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

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

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 in the last quarter. 1.00% of the stock is currently 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.