Holocene Advisors LP Has $4.86 Million Stake in Equity Residential (NYSE:EQR)

Holocene Advisors LP increased its position in shares of Equity Residential (NYSE:EQR - Free Report) by 877.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,274 shares of the real estate investment trust's stock after purchasing an additional 58,596 shares during the period. Holocene Advisors LP's holdings in Equity Residential were worth $4,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers bought a new stake in Equity Residential in the first quarter valued at $2,841,000. Massmutual Trust Co. FSB ADV grew its position in Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 155 shares during the period. Mather Group LLC. grew its position in Equity Residential by 388.1% in the second quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 621 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Equity Residential in the second quarter valued at $3,893,000. Finally, BDF Gestion bought a new stake in Equity Residential in the second quarter valued at $6,310,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Down 0.6 %

Shares of NYSE:EQR traded down $0.41 during mid-day trading on Thursday, reaching $73.38. 1,180,234 shares of the stock were exchanged, compared to its average volume of 1,827,229. 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 $27.84 billion, a P/E ratio of 30.25, a P/E/G ratio of 6.00 and a beta of 0.92. Equity Residential has a one year low of $57.33 and a one year high of $78.83. The stock's 50 day simple moving average is $74.01 and its 200-day simple moving average is $71.57.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued 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 dividend yield of 3.68%. Equity Residential's payout ratio is presently 110.66%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Equity Residential from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Royal Bank of Canada cut their price target on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company lowered Equity Residential from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $77.25.

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.