Lazard Asset Management LLC Buys 3,080 Shares of Equity Residential (NYSE:EQR)

Posted by Defense World Staff on Mar 4th, 2023

Lazard Asset Management LLC raised its stake in Equity Residential (NYSE:EQR – Get Rating) by 155.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,061 shares of the real estate investment trust’s stock after acquiring an additional 3,080 shares during the period. Lazard Asset Management LLC’s holdings in Equity Residential were worth $339,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Equity Residential by 234.9% during the first quarter. American Century Companies Inc. now owns 12,882 shares of the real estate investment trust’s stock worth $1,158,000 after purchasing an additional 9,035 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Equity Residential by 45.5% during the first quarter. Private Advisor Group LLC now owns 4,761 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 1,489 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Equity Residential by 85.2% during the first quarter. Panagora Asset Management Inc. now owns 11,356 shares of the real estate investment trust’s stock worth $1,021,000 after purchasing an additional 5,224 shares during the last quarter. Prudential PLC bought a new stake in shares of Equity Residential during the first quarter worth $687,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Equity Residential by 8.5% during the first quarter. Baird Financial Group Inc. now owns 9,295 shares of the real estate investment trust’s stock worth $836,000 after purchasing an additional 730 shares during the last quarter. 82.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equity Residential news, Director David J. Neithercut sold 40,000 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $62.75, for a total value of $2,510,000.00. Following the completion of the sale, the director now directly owns 3,392 shares in the company, valued at $212,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on EQR shares. Truist Financial upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, January 17th. BTIG Research lowered Equity Residential from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th. Mizuho upped their price target on Equity Residential from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Argus raised Equity Residential from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, November 17th. Finally, Citigroup upped their price target on Equity Residential from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.88.

Equity Residential Trading Up 1.9 %

NYSE:EQR opened at $62.57 on Friday. Equity Residential has a 1-year low of $57.38 and a 1-year high of $94.32. The business’s 50-day moving average price is $62.33 and its two-hundred day moving average price is $65.19. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 3.09 and a beta of 0.80. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.65.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $2.50 annualized dividend and a dividend yield of 4.00%. Equity Residential’s dividend payout ratio (DPR) is currently 121.36%.

About Equity Residential

(Get Rating)

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.