Equity Residential (NYSE:EQR) Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. lowered its position in shares of Equity Residential (NYSE:EQR) by 9.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,035 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. Cambria Investment Management L.P.’s holdings in Equity Residential were worth $332,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its holdings in shares of Equity Residential by 17.7% during the second quarter. Achmea Investment Management B.V. now owns 48,650 shares of the real estate investment trust’s stock worth $3,210,000 after purchasing an additional 7,321 shares during the period. Arizona State Retirement System raised its stake in Equity Residential by 5.0% during the second quarter. Arizona State Retirement System now owns 102,891 shares of the real estate investment trust’s stock worth $6,788,000 after acquiring an additional 4,863 shares during the period. Natixis Advisors L.P. lifted its holdings in Equity Residential by 14.0% in the first quarter. Natixis Advisors L.P. now owns 64,078 shares of the real estate investment trust’s stock worth $3,844,000 after acquiring an additional 7,871 shares during the last quarter. Signaturefd LLC boosted its stake in Equity Residential by 20.3% in the second quarter. Signaturefd LLC now owns 4,109 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 693 shares during the period. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Equity Residential during the second quarter valued at approximately $61,000. 84.79% of the stock is currently owned by institutional investors.

Insider Transactions at Equity Residential

In related news, Chairman David J. Neithercut sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $54.25, for a total transaction of $1,356,250.00. Following the completion of the sale, the chairman now directly owns 3,392 shares in the company, valued at $184,016. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.69% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Equity Residential from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. Evercore ISI cut their target price on Equity Residential from $70.00 to $66.00 in a research note on Monday, October 9th. Stifel Nicolaus lowered their price target on shares of Equity Residential from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, November 1st. Wedbush began coverage on shares of Equity Residential in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $62.00 price objective on the stock. Finally, Piper Sandler reduced their target price on shares of Equity Residential from $71.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $66.13.

Equity Residential Trading Down 0.9 %

Shares of EQR stock opened at $55.44 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $58.23 and a 200 day simple moving average of $62.37. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The stock has a market capitalization of $21.05 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.04 and a beta of 0.86.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Tuesday, September 26th were given a dividend of $0.6625 per share. The ex-dividend date of this dividend was Monday, September 25th. This represents a $2.65 annualized dividend and a dividend yield of 4.78%. Equity Residential’s dividend payout ratio (DPR) is 147.22%.

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.