Equity Residential (NYSE:EQR) Stock Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Equity Residential (NYSE:EQR – Get Rating) by 40.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,553 shares of the real estate investment trust’s stock after selling 26,436 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equity Residential were worth $2,658,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Clifford Swan Investment Counsel LLC grew its position in shares of Equity Residential by 2.1% during the second quarter. Clifford Swan Investment Counsel LLC now owns 6,737 shares of the real estate investment trust’s stock worth $487,000 after acquiring an additional 139 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Equity Residential by 1.4% during the second quarter. Sumitomo Life Insurance Co. now owns 10,417 shares of the real estate investment trust’s stock worth $752,000 after acquiring an additional 147 shares during the last quarter. Desjardins Global Asset Management Inc. grew its position in shares of Equity Residential by 1.9% during the third quarter. Desjardins Global Asset Management Inc. now owns 8,330 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 156 shares during the last quarter. Allworth Financial LP grew its position in shares of Equity Residential by 48.2% during the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 158 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Equity Residential by 1.4% during the second quarter. Chicago Partners Investment Group LLC now owns 12,334 shares of the real estate investment trust’s stock worth $967,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 82.62% of the company’s stock.

Insider Transactions at Equity Residential

In other news, Director David J. Neithercut sold 40,000 shares of the stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $62.75, for a total value of $2,510,000.00. Following the completion of the sale, the director now directly owns 3,392 shares of the company’s stock, valued at $212,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EQR shares. Piper Sandler decreased their target price on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating for the company in a research report on Friday, October 7th. Credit Suisse Group lowered shares of Equity Residential from an “outperform” rating to a “neutral” rating and set a $58.00 target price for the company. in a research report on Monday, January 9th. Truist Financial upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday. Mizuho decreased their target price on shares of Equity Residential from $77.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, November 10th. Finally, Evercore ISI decreased their target price on shares of Equity Residential to $75.00 in a research report on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and an average target price of $71.56.

Equity Residential Price Performance

NYSE EQR opened at $60.73 on Thursday. The company has a 50 day simple moving average of $61.37 and a 200-day simple moving average of $67.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. Equity Residential has a 52-week low of $57.38 and a 52-week high of $94.32.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, December 30th. Equity Residential’s dividend payout ratio (DPR) is 82.24%.

Equity Residential Company Profile

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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.