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

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

A number of other institutional investors and hedge funds have also bought and sold shares of EQR. Wilmington Savings Fund Society FSB acquired a new position in Equity Residential in the 3rd quarter worth about $29,000. Assetmark Inc. increased its holdings in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group acquired a new position in Equity Residential in the 3rd quarter worth about $33,000. Continuum Advisory LLC acquired a new position in Equity Residential in the 3rd quarter worth about $40,000. Finally, Grove Bank & Trust increased its holdings in Equity Residential by 208.1% in the 4th quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the completion of the sale, the chief operating officer now 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares in the company, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,763 shares of company stock valued at $1,424,217. Company insiders own 1.00% of the company’s stock.

Equity Residential Stock Up 0.5 %

Shares of Equity Residential stock opened at $74.06 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. Equity Residential has a one year low of $59.19 and a one year high of $78.83. The stock’s 50-day moving average is $70.61 and its 200 day moving average is $72.87. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.99 and a beta of 0.93.

Equity Residential Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Scotiabank upped their price target on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Finally, Evercore ISI upped their price target on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.