Raymond James Trust N.A. Sells 844 Shares of Equity Residential (NYSE:EQR)

Posted by on Apr 26th, 2023

Raymond James Trust N.A. lowered its stake in shares of Equity Residential (NYSE:EQR – Get Rating) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,906 shares of the real estate investment trust’s stock after selling 844 shares during the period. Raymond James Trust N.A.’s holdings in Equity Residential were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. American Century Companies Inc. increased its position in shares of Equity Residential by 234.9% during the 1st 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 raised its holdings in Equity Residential by 45.5% in the 1st quarter. Private Advisor Group LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $428,000 after acquiring an additional 1,489 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Equity Residential by 85.2% during the 1st quarter. Panagora Asset Management Inc. now owns 11,356 shares of the real estate investment trust’s stock worth $1,021,000 after buying an additional 5,224 shares in the last quarter. Prudential PLC acquired a new position in shares of Equity Residential during the 1st quarter worth $687,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Equity Residential by 8.5% during the 1st quarter. Baird Financial Group Inc. now owns 9,295 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 730 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial boosted their price target on Equity Residential from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, March 10th. StockNews.com assumed coverage on Equity Residential in a report on Thursday, March 16th. They set a “hold” rating for the company. Citigroup upped their target price on Equity Residential from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Credit Suisse Group cut Equity Residential from an “outperform” rating to a “neutral” rating and set a $58.00 target price for the company. in a report on Monday, January 9th. Finally, Mizuho upped their price target on Equity Residential from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.44.

Equity Residential Stock Performance

Shares of EQR opened at $60.52 on Wednesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 3.12 and a beta of 0.81. The stock has a 50 day moving average of $60.75 and a 200 day moving average of $61.67. Equity Residential has a 12 month low of $54.60 and a 12 month high of $90.95.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Monday, March 27th were given a dividend of $0.6625 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.38%. This is an increase from Equity Residential’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, March 24th. Equity Residential’s dividend payout ratio (DPR) is presently 128.64%.

Equity Residential Profile

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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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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