Raymond James Financial Services Advisors Inc. Sells 1,069 Shares of Equity Residential (NYSE:EQR)

Raymond James Financial Services Advisors Inc. cut its holdings in Equity Residential (NYSE:EQR – Get Rating) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,592 shares of the real estate investment trust’s stock after selling 1,069 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Equity Residential were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Legal & General Group Plc grew its stake in shares of Equity Residential by 1.7% in the second quarter. Legal & General Group Plc now owns 5,332,783 shares of the real estate investment trust’s stock worth $385,134,000 after purchasing an additional 87,840 shares during the last quarter. Centersquare Investment Management LLC grew its stake in shares of Equity Residential by 7.9% in the first quarter. Centersquare Investment Management LLC now owns 4,455,292 shares of the real estate investment trust’s stock worth $400,620,000 after purchasing an additional 327,435 shares during the last quarter. Invesco Ltd. grew its stake in shares of Equity Residential by 34.9% in the first quarter. Invesco Ltd. now owns 3,647,722 shares of the real estate investment trust’s stock worth $328,002,000 after purchasing an additional 943,870 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Equity Residential by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,319,973 shares of the real estate investment trust’s stock worth $298,533,000 after purchasing an additional 112,358 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Equity Residential by 4.4% in the second quarter. Prudential Financial Inc. now owns 2,469,729 shares of the real estate investment trust’s stock worth $178,789,000 after purchasing an additional 103,740 shares during the last quarter. 82.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on EQR. BTIG Research cut Equity Residential from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th. BMO Capital Markets cut Equity Residential from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $70.00 to $61.00 in a research report on Friday, December 16th. Credit Suisse Group cut Equity Residential from an “outperform” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research report on Monday, January 9th. Morgan Stanley cut their price objective on Equity Residential from $75.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, December 2nd. Finally, Barclays cut their price objective on Equity Residential from $88.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.56.

Equity Residential Price Performance

Shares of NYSE EQR opened at $61.33 on Friday. Equity Residential has a twelve month low of $57.38 and a twelve month high of $94.32. The firm has a market cap of $23.18 billion, a P/E ratio of 20.17, a PEG ratio of 2.45 and a beta of 0.78. The company has a 50 day moving average of $61.28 and a 200 day moving average of $67.31. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were issued a $0.625 dividend. The ex-dividend date was Friday, December 30th. This represents a $2.50 dividend on an annualized basis and a yield of 4.08%. Equity Residential’s payout ratio is currently 82.24%.

Insider Buying and Selling

In other Equity Residential news, Director David J. Neithercut sold 40,000 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $62.75, for a total transaction of $2,510,000.00. Following the completion of the sale, the director now directly owns 3,392 shares in the company, valued at approximately $212,848. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Equity Residential Company 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.