Creative Planning increased its stake in Equity Residential (NYSE:EQR – Free Report) by 36.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,639 shares of the real estate investment trust’s stock after acquiring an additional 6,061 shares during the period. Creative Planning’s holdings in Equity Residential were worth $1,493,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont boosted its position in shares of Equity Residential by 340.0% in the first quarter. Trust Co. of Vermont now owns 440 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 340 shares during the last quarter. Allworth Financial LP lifted its position in Equity Residential by 220.0% during the second quarter. Allworth Financial LP now owns 400 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 275 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Equity Residential by 133.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 474 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 271 shares in the last quarter. OLD Mission Capital LLC acquired a new position in Equity Residential during the fourth quarter valued at approximately $28,000. Finally, Money Concepts Capital Corp acquired a new position in Equity Residential during the fourth quarter valued at approximately $29,000. 84.79% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on EQR. Wells Fargo & Company raised shares of Equity Residential from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $69.00 in a research report on Tuesday, September 5th. Truist Financial lifted their price objective on shares of Equity Residential from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Evercore ISI decreased their target price on shares of Equity Residential from $70.00 to $66.00 in a research note on Monday. Royal Bank of Canada upped their target price on shares of Equity Residential from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b-” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.00.
Equity Residential Stock Down 0.7 %
Shares of NYSE:EQR opened at $60.29 on Friday. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.97 and a beta of 0.84. Equity Residential has a 1-year low of $54.60 and a 1-year high of $69.45. The company’s fifty day moving average is $62.47 and its two-hundred day moving average is $63.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.19 and a current ratio of 0.19.
Equity Residential Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, September 26th will be issued a dividend of $0.6625 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.40%. Equity Residential’s dividend payout ratio (DPR) is 119.91%.
Insiders Place Their Bets
In other Equity Residential news, COO Michael L. Manelis sold 2,500 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $66.04, for a total transaction of $165,100.00. Following the sale, the chief operating officer now directly owns 22,844 shares of the company’s stock, valued at $1,508,617.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.69% of the stock is owned by corporate insiders.
Equity Residential 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 304 properties consisting of 80,212 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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