New York Life Investment Management LLC Has $3.63 Million Stock Position in Equity Residential (NYSE:EQR)

New York Life Investment Management LLC decreased its stake in shares of Equity Residential (NYSE:EQR) by 46.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,607 shares of the real estate investment trust’s stock after selling 44,174 shares during the quarter. New York Life Investment Management LLC’s holdings in Equity Residential were worth $3,632,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vert Asset Management LLC increased its position in shares of Equity Residential by 7.5% during the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock worth $10,782,000 after purchasing an additional 10,472 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Equity Residential during the 3rd quarter worth approximately $923,000. Atomi Financial Group Inc. increased its position in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 284 shares during the last quarter. Tidal Investments LLC increased its position in shares of Equity Residential by 12.3% during the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after purchasing an additional 14,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Equity Residential by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock worth $298,461,000 after purchasing an additional 124,795 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of NYSE EQR opened at $74.06 on Friday. The stock has a market capitalization of $28.12 billion, a PE ratio of 27.23, a P/E/G ratio of 3.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The business has a fifty day moving average price of $70.61 and a two-hundred day moving average price of $72.87. Equity Residential has a fifty-two week low of $59.19 and a fifty-two week high of $78.83.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 annualized dividend and a yield of 3.65%. Equity Residential’s dividend payout ratio is presently 99.26%.

Insider Buying and Selling at Equity Residential

In other news, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Garechana sold 4,294 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Scotiabank lifted their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Barclays reduced their target price 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. Evercore ISI lifted their target price on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Finally, Wells Fargo & Company reduced their target price 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. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.46.

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.