QRG Capital Management Inc. increased its position in shares of Equity Residential (NYSE:EQR - Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,424 shares of the real estate investment trust's stock after acquiring an additional 12,661 shares during the quarter. QRG Capital Management Inc.'s holdings in Equity Residential were worth $8,222,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tobam grew its stake in Equity Residential by 8.6% during the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust's stock worth $143,000 after buying an additional 152 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust's stock valued at $244,000 after purchasing an additional 153 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of 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 purchasing an additional 155 shares during the last quarter. UMB Bank n.a. boosted its stake 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, Mystic Asset Management Inc. grew its position in Equity Residential by 3.8% during the 1st quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust's stock worth $344,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.
Equity Residential Stock Up 2.6 %
Shares of Equity Residential stock traded up $1.81 during trading hours on Tuesday, hitting $72.03. 1,266,621 shares of the company's stock traded hands, compared to its average volume of 1,860,707. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a twelve month low of $53.48 and a twelve month high of $78.83. The stock has a 50 day simple moving average of $74.61 and a 200-day simple moving average of $70.30. The company has a market cap of $27.31 billion, a PE ratio of 29.52, a PEG ratio of 5.77 and a beta of 0.90.
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 was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.75%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.
Analysts Set New Price Targets
Several research firms recently issued reports on EQR. Truist Financial upped their target price on Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Wells Fargo & Company cut shares of Equity Residential from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $69.00 to $77.00 in a report on Monday, August 26th. JPMorgan Chase & Co. raised their target price on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a "hold" rating to a "buy" rating and boosted their price objective for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, UBS Group increased their target price on Equity Residential from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of "Hold" and a consensus price target of $76.19.
Read Our Latest Analysis on EQR
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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