Thrivent Financial for Lutherans Has $3.44 Million Stock Holdings in Equity Residential (NYSE:EQR)

Thrivent Financial for Lutherans lowered its stake in Equity Residential (NYSE:EQR) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,959 shares of the real estate investment trust’s stock after selling 6,537 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equity Residential were worth $3,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EQR. Mystic Asset Management Inc. lifted its stake in Equity Residential by 20.7% in the fourth quarter. Mystic Asset Management Inc. now owns 6,580 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 1,130 shares during the period. Cibc World Markets Corp raised its position in shares of Equity Residential by 12.3% in the 4th quarter. Cibc World Markets Corp now owns 153,229 shares of the real estate investment trust’s stock valued at $10,996,000 after acquiring an additional 16,770 shares during the period. American Assets Capital Advisers LLC boosted its stake in Equity Residential by 70.3% during the 4th quarter. American Assets Capital Advisers LLC now owns 11,577 shares of the real estate investment trust’s stock worth $831,000 after acquiring an additional 4,777 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Equity Residential by 49.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,372 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 1,455 shares during the period. Finally, Natixis Advisors LLC increased its stake in Equity Residential by 7.0% in the fourth quarter. Natixis Advisors LLC now owns 78,886 shares of the real estate investment trust’s stock valued at $5,661,000 after purchasing an additional 5,187 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Equity Residential news, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the transaction, the executive vice president now directly owns 35,507 shares of the company’s stock, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock valued at $1,424,217 in the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EQR shares. Wells Fargo & Company reduced their price target on shares of 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. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Scotiabank lifted their price objective on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Mizuho lowered their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Truist Financial raised their target price on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.51.

Equity Residential Trading Up 0.7 %

Shares of Equity Residential stock opened at $71.52 on Thursday. The stock has a market cap of $27.16 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.84. The business’s 50 day moving average is $70.90 and its 200-day moving average is $72.56.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.6925 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a yield of 3.87%. This is a boost from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio (DPR) is currently 101.84%.

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.