30,000 Shares in Equity Residential (NYSE:EQR) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new stake in shares of Equity Residential (NYSE:EQR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 30,000 shares of the real estate investment trust's stock, valued at approximately $2,219,000.

A number of other hedge funds also recently made changes to their positions in the stock. Maryland Capital Advisors Inc. bought a new stake in Equity Residential during the third quarter valued at about $25,000. Assetmark Inc. raised its stake in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 430 shares during the period. Brooklyn Investment Group purchased a new position in Equity Residential in the 3rd quarter worth approximately $33,000. UMB Bank n.a. lifted its holdings in Equity Residential by 69.6% in the 3rd 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. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 155 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Royal Bank of Canada decreased their price objective on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 target price for the company. Bank of America downgraded shares of Equity Residential from a "buy" rating to a "neutral" rating and upped their price target for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, 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 note on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Equity Residential presently has an average rating of "Hold" and a consensus price target of $77.25.

Equity Residential Price Performance

Shares of Equity Residential stock traded down $1.22 during trading hours on Tuesday, reaching $74.02. The stock had a trading volume of 1,479,000 shares, compared to its average volume of 1,832,255. The stock's 50 day moving average is $74.03 and its 200 day moving average is $71.56. 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 twelve month low of $57.33 and a twelve month high of $78.83. The firm has a market capitalization of $28.09 billion, a PE ratio of 30.34, a PEG ratio of 6.10 and a beta of 0.92.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. Equity Residential's dividend payout ratio is currently 110.66%.

Equity Residential 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.