Summit Place Financial Advisors LLC Has $1.42 Million Position in Equity Residential (NYSE:EQR)

Summit Place Financial Advisors LLC raised its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 217.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,035 shares of the real estate investment trust's stock after acquiring an additional 13,035 shares during the quarter. Summit Place Financial Advisors LLC's holdings in Equity Residential were worth $1,417,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential during the 3rd quarter valued at $25,000. Fidelis Capital Partners LLC acquired a new position in Equity Residential during the 1st quarter worth about $27,000. UMB Bank n.a. grew its holdings in Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 195 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Equity Residential by 41.9% in 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 acquiring an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in shares of 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 worth $38,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut shares of Equity Residential from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised Equity Residential from a "hold" rating to a "buy" rating and upped their price target for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Bank of America lowered Equity Residential from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. Royal Bank of Canada upped their target price on shares of Equity Residential from $74.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Finally, BNP Paribas started coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $75.97.

Equity Residential Stock Up 0.5 %

Shares of NYSE:EQR traded up $0.36 during trading on Monday, hitting $75.03. 1,241,818 shares of the company's stock traded hands, compared to its average volume of 1,855,955. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $74.68 and a 200-day moving average price of $69.76. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The company has a market cap of $28.48 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 6.17 and a beta of 0.89.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.49). The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 EPS. As a group, research analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Tuesday, September 24th. Equity Residential's dividend payout ratio is 112.03%.

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.