KLP Kapitalforvaltning AS Invests $17.90 Million in Equity Residential (NYSE:EQR)

KLP Kapitalforvaltning AS purchased a new position in shares of Equity Residential (NYSE:EQR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 249,394 shares of the real estate investment trust’s stock, valued at approximately $17,897,000.

Other hedge funds have also made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Equity Residential during the third quarter worth about $29,000. Brooklyn Investment Group acquired a new stake in shares of Equity Residential during the third quarter worth about $33,000. Continuum Advisory LLC acquired a new stake in shares of Equity Residential during the third quarter worth about $40,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Equity Residential by 109.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR opened at $69.85 on Monday. 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 $26.52 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company’s 50 day simple moving average is $70.79 and its 200-day simple moving average is $72.62. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.84.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $0.6925 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.97%. Equity Residential’s dividend payout ratio (DPR) is 101.84%.

Insider Transactions at Equity Residential

In related news, EVP Scott Fenster sold 5,340 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now directly owns 35,507 shares of the company’s stock, valued at $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,763 shares of company stock worth $1,424,217. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

EQR has been the topic of a number of recent research reports. Wells Fargo & Company cut 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. Scotiabank upped their target price on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Truist Financial upped their target price on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Finally, Barclays cut their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.51.

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.