Soltis Investment Advisors LLC Takes Position in Equity Residential (NYSE:EQR)

Soltis Investment Advisors LLC acquired a new position in Equity Residential (NYSE:EQR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,324 shares of the real estate investment trust's stock, valued at approximately $3,226,000.

Several other large investors have also bought and sold shares of the company. Diversified Trust Co boosted its holdings in shares of Equity Residential by 27.9% during the 2nd quarter. Diversified Trust Co now owns 14,951 shares of the real estate investment trust's stock valued at $1,037,000 after buying an additional 3,263 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Equity Residential by 30.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,305 shares of the real estate investment trust's stock worth $1,755,000 after purchasing an additional 5,913 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Equity Residential by 10.0% during the second quarter. V Square Quantitative Management LLC now owns 3,867 shares of the real estate investment trust's stock valued at $268,000 after purchasing an additional 351 shares in the last quarter. PGGM Investments lifted its holdings in shares of Equity Residential by 56.1% during the second quarter. PGGM Investments now owns 10,736 shares of the real estate investment trust's stock valued at $744,000 after purchasing an additional 3,857 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Equity Residential by 12.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,560 shares of the real estate investment trust's stock worth $247,000 after purchasing an additional 388 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company cut 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 research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 price objective on the stock. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Finally, Scotiabank cut their price target on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.25.

Equity Residential Stock Performance

Shares of Equity Residential stock traded down $0.12 during trading hours on Wednesday, reaching $72.78. 1,309,823 shares of the stock traded hands, compared to its average volume of 1,816,456. Equity Residential has a one year low of $57.33 and a one year high of $78.83. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 5.98 and a beta of 0.92. 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 50 day moving average price of $73.95 and a 200 day moving average price of $71.82.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued 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 3.71%. Equity Residential's dividend payout ratio is currently 110.66%.

About Equity Residential

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.