Equity Residential (NYSE:EQR) Shares Purchased by Richardson Financial Services Inc.

by · The Markets Daily

Richardson Financial Services Inc. grew its stake in shares of Equity Residential (NYSE:EQR – Free Report) by 100.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the real estate investment trust’s stock after acquiring an additional 650 shares during the quarter. Richardson Financial Services Inc.’s holdings in Equity Residential were worth $93,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Tobam boosted its holdings in Equity Residential by 8.6% in the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 152 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Equity Residential by 4.5% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 153 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares in the last quarter. 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, Mystic Asset Management Inc. raised its holdings in Equity Residential by 3.8% in the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 200 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQR has been the subject of several research reports. Scotiabank boosted their price objective on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Royal Bank of Canada increased their price target on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BNP Paribas initiated coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Evercore ISI upped their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, UBS Group increased their target price on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.97.

Get Our Latest Stock Report on Equity Residential

Equity Residential Stock Performance

EQR traded down $1.39 during trading on Friday, reaching $74.67. 1,056,501 shares of the company were exchanged, compared to its average volume of 1,449,197. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock has a market cap of $28.31 billion, a P/E ratio of 29.75, a PEG ratio of 6.17 and a beta of 0.89. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The firm has a 50 day moving average of $74.68 and a 200 day moving average of $69.71.

Equity Residential (NYSE:EQR – Get Free Report) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.62%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 107.57%.

Equity Residential Company Profile

(Free Report)

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.

See Also

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