Point72 Hong Kong Ltd Invests $609,000 in Equity Residential (NYSE:EQR)

Point72 Hong Kong Ltd purchased a new stake in Equity Residential (NYSE:EQR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,177 shares of the real estate investment trust's stock, valued at approximately $609,000.

Other hedge funds have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new position in Equity Residential in the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in Equity Residential in the third quarter valued at approximately $33,000. Assetmark Inc. raised its holdings 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 buying an additional 430 shares during the period. UMB Bank n.a. raised its holdings 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 buying an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings 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 buying an additional 155 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on EQR. BNP Paribas began coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Scotiabank lowered 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 report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a "hold" rating to a "buy" rating and increased their price objective for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $77.25.

Equity Residential Stock Down 1.6 %

NYSE EQR traded down $1.22 on Tuesday, hitting $74.02. 1,479,000 shares of the stock traded hands, compared to its average volume of 1,832,255. The stock has a 50-day moving average of $74.03 and a 200 day moving average of $71.56. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83. The company has a market capitalization of $28.09 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 6.10 and a beta of 0.92. 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 Dividend Announcement

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

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.