Benjamin Edwards Inc. Invests $923,000 in Equity Residential (NYSE:EQR)

Benjamin Edwards Inc. bought a new position in Equity Residential (NYSE:EQR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,396 shares of the real estate investment trust's stock, valued at approximately $923,000.

Several other large investors also recently made changes to their positions in EQR. Tobam grew its holdings in Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust's stock worth $143,000 after buying an additional 152 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Equity Residential by 4.5% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust's stock worth $244,000 after acquiring an additional 153 shares during the period. UMB Bank n.a. grew its stake in shares of Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Equity Residential by 32.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 200 shares in the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of Equity Residential by 6.5% during the third quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust's stock valued at $244,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Trading Up 0.5 %

Shares of EQR traded up $0.37 during midday trading on Friday, hitting $73.75. The stock had a trading volume of 1,028,988 shares, compared to its average volume of 1,379,258. The business has a 50-day simple moving average of $73.98 and a two-hundred day simple moving average of $71.67. The firm has a market cap of $27.98 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EQR shares. Wells Fargo & Company lowered shares of Equity Residential from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and increased their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Scotiabank dropped their target price on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus upgraded Equity Residential from a "hold" rating to a "buy" rating and lifted their price target for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Equity Residential has an average rating of "Hold" and an average target price of $77.25.

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.