Ilmarinen Mutual Pension Insurance Co Purchases 17,000 Shares of Equity Residential (NYSE:EQR)

Ilmarinen Mutual Pension Insurance Co grew its position in Equity Residential (NYSE:EQR) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,600 shares of the real estate investment trust’s stock after acquiring an additional 17,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Equity Residential were worth $4,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EQR. Norges Bank bought a new position in Equity Residential in the 4th quarter valued at $2,493,426,000. Principal Financial Group Inc. lifted its position in Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after buying an additional 591,866 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Equity Residential during the 4th quarter worth about $32,664,000. KBC Group NV increased its position in Equity Residential by 100.9% in the 4th quarter. KBC Group NV now owns 691,061 shares of the real estate investment trust’s stock valued at $49,590,000 after acquiring an additional 347,085 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Equity Residential by 20.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,011,368 shares of the real estate investment trust’s stock worth $144,336,000 after acquiring an additional 345,988 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays lowered 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. Evercore ISI boosted their target price on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Truist Financial raised their price target on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, March 10th. Mizuho dropped their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.51.

Equity Residential Stock Performance

EQR stock opened at $63.69 on Friday. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market cap of $24.18 billion, a PE ratio of 23.42, a P/E/G ratio of 3.99 and a beta of 0.91. The business’s 50-day moving average price is $70.99 and its two-hundred day moving average price is $72.21.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $0.6925 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a dividend yield of 4.35%. Equity Residential’s payout ratio is currently 101.84%.

Insider Buying and Selling

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,840,340.34. This represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Fenster sold 5,340 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by corporate 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.