Synovus Financial Corp increased its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 104.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,195 shares of the real estate investment trust's stock after acquiring an additional 8,789 shares during the period. Synovus Financial Corp's holdings in Equity Residential were worth $1,280,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Equity Residential by 1.4% during the 3rd quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust's stock valued at $1,796,976,000 after purchasing an additional 321,002 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Equity Residential by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust's stock worth $694,441,000 after purchasing an additional 132,638 shares during the last quarter. FMR LLC increased its stake in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after buying an additional 1,741,840 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equity Residential by 8.3% in the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock valued at $576,737,000 after buying an additional 591,866 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Equity Residential by 1.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust's stock worth $346,794,000 after buying an additional 60,000 shares in the last quarter. Institutional investors own 92.68% of the company's stock.
Equity Residential Stock Down 0.9 %
EQR stock traded down $0.69 during midday trading on Tuesday, hitting $72.77. The company's stock had a trading volume of 1,531,806 shares, compared to its average volume of 1,807,778. The company's fifty day moving average price is $73.94 and its 200 day moving average price is $72.07. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $27.61 billion, a P/E ratio of 30.10, a PEG ratio of 5.90 and a beta of 0.92.
Equity Residential Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.71%. Equity Residential's dividend payout ratio is 110.66%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on EQR. Scotiabank dropped their price objective on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada decreased their price target on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. BNP Paribas started coverage on Equity Residential in a report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price objective for the company. Wells Fargo & Company downgraded shares of Equity Residential from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Finally, StockNews.com cut shares of Equity Residential from a "hold" rating to a "sell" rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $78.14.
View Our Latest Research Report on Equity Residential
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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