Investment Management Corp of Ontario increased its position in shares of Equity Residential (NYSE:EQR - Free Report) by 158.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,989 shares of the real estate investment trust's stock after purchasing an additional 12,259 shares during the period. Investment Management Corp of Ontario's holdings in Equity Residential were worth $1,488,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of EQR. Maryland Capital Advisors Inc. acquired a new position in Equity Residential in the third quarter valued at $25,000. Assetmark Inc. boosted its stake in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 430 shares in the last quarter. Brooklyn Investment Group acquired a new position in Equity Residential in the third quarter valued at $33,000. UMB Bank n.a. boosted its stake in 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 valued at $35,000 after acquiring an additional 195 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on EQR. Bank of America downgraded shares of Equity Residential from a "buy" rating to a "neutral" rating and upped their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a "hold" rating to a "buy" rating and upped their target price for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Scotiabank reduced their target price on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, Evercore ISI increased their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Equity Residential has a consensus rating of "Hold" and a consensus price target of $77.25.
Read Our Latest Analysis on EQR
Equity Residential Price Performance
Shares of EQR stock traded up $0.37 during trading hours on Friday, hitting $73.75. The company's stock had a trading volume of 1,028,988 shares, compared to its average volume of 1,823,847. The business has a fifty day moving average of $73.99 and a 200-day moving average of $71.58. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 6.00 and a beta of 0.92. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83. 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 Announces Dividend
The firm also recently declared 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 of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. Equity Residential's dividend payout ratio is presently 110.66%.
Equity Residential Company Profile
(
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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