Truist Financial Corp Has $813,000 Stock Holdings in Equity Residential (NYSE:EQR)

Truist Financial Corp lessened its position in Equity Residential (NYSE:EQR) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,335 shares of the real estate investment trust’s stock after selling 314 shares during the quarter. Truist Financial Corp’s holdings in Equity Residential were worth $813,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. Wells Fargo & Company lowered 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 boosted their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Finally, Mizuho lowered 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. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.46.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $74.06 on Friday. The stock has a 50 day moving average of $70.61 and a 200-day moving average of $72.87. The company has a market capitalization of $28.12 billion, a P/E ratio of 27.23, a P/E/G ratio of 3.99 and a beta of 0.93. Equity Residential has a 12 month low of $59.19 and a 12 month high of $78.83. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were paid 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 (DPR) is presently 99.26%.

Insider Activity at Equity Residential

In related news, EVP Scott Fenster sold 5,340 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 $384,800.40. Following the completion of the sale, the executive vice president now directly owns 35,507 shares in the company, valued at $2,558,634.42. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 in the last ninety days. 1.00% of the stock is owned by company insiders.

Equity Residential 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.