Landscape Capital Management L.L.C. Raises Holdings in Equity Residential (NYSE:EQR)

Landscape Capital Management L.L.C. increased its position in shares of Equity Residential (NYSE:EQR) by 50.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,950 shares of the real estate investment trust’s stock after buying an additional 9,376 shares during the period. Landscape Capital Management L.L.C.’s holdings in Equity Residential were worth $2,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. raised its holdings in shares of Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Equity Residential in the third quarter worth approximately $29,000. Continuum Advisory LLC purchased a new stake in Equity Residential during the third quarter worth $40,000. Steward Partners Investment Advisory LLC boosted its position in Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 288 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 156 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Stock Down 7.1 %

Shares of EQR opened at $63.69 on Friday. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 3.99 and a beta of 0.91. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The stock’s 50-day moving average price is $70.99 and its 200-day moving average price is $72.25. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.35%. Equity Residential’s dividend payout ratio (DPR) is presently 101.84%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI lifted their target price on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. 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. Finally, Wells Fargo & Company lowered their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.51.

Insider Activity

In other news, CAO Ian Kaufman sold 642 shares of the firm’s 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 sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. 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 three months. 1.00% of the stock is currently owned by corporate insiders.

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.