Zimmer Partners LP bought a new position in shares of Equity Residential (NYSE:EQR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,800 shares of the real estate investment trust's stock, valued at approximately $2,144,000.
A number of other institutional investors have also recently added to or reduced their stakes in EQR. Cetera Investment Advisers bought a new stake in shares of Equity Residential in the 1st quarter valued at about $2,841,000. Mather Group LLC. increased its position in Equity Residential by 388.1% during the 2nd quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 621 shares during the period. Gateway Investment Advisers LLC bought a new position in Equity Residential during the second quarter worth $509,000. Czech National Bank raised its position in shares of Equity Residential by 8.2% in the 2nd quarter. Czech National Bank now owns 65,717 shares of the real estate investment trust's stock worth $4,557,000 after acquiring an additional 4,987 shares in the last quarter. Finally, LVW Advisors LLC grew its stake in Equity Residential by 21.4% during the second quarter. LVW Advisors LLC now owns 7,476 shares of the real estate investment trust's stock worth $518,000 after purchasing an additional 1,320 shares during the period. 92.68% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and raised their price target for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price objective on the stock. Wells Fargo & Company downgraded Equity Residential from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Finally, The Goldman Sachs Group initiated coverage on Equity Residential in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 target price for the company. 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, the stock has a consensus rating of "Hold" and a consensus target price of $77.25.
Check Out Our Latest Analysis on Equity Residential
Equity Residential Stock Up 0.5 %
NYSE:EQR traded up $0.37 during trading hours on Friday, hitting $73.75. 1,028,988 shares of the company traded hands, compared to its average volume of 1,379,258. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $27.98 billion, a PE ratio of 30.23, a PEG ratio of 5.99 and a beta of 0.92. The firm's 50-day simple moving average is $73.98 and its 200-day simple moving average is $71.71. Equity Residential has a one year low of $57.33 and a one year high of $78.83.
Equity Residential Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's payout ratio is currently 110.66%.
About Equity Residential
(
Free Report)
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.
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