Park Avenue Securities LLC Buys New Holdings in Equity Residential (NYSE:EQR)

Park Avenue Securities LLC bought a new stake in Equity Residential (NYSE:EQRGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,739 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Several other hedge funds have also recently added to or reduced their stakes in EQR. Clifford Swan Investment Counsel LLC raised its holdings in Equity Residential by 2.1% during the second quarter. Clifford Swan Investment Counsel LLC now owns 6,737 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 139 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in Equity Residential by 1.4% during the second quarter. Sumitomo Life Insurance Co. now owns 10,417 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 147 shares in the last quarter. Desjardins Global Asset Management Inc. raised its holdings in Equity Residential by 1.9% during the third quarter. Desjardins Global Asset Management Inc. now owns 8,330 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 156 shares in the last quarter. Allworth Financial LP raised its holdings in Equity Residential by 48.2% during the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 158 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Equity Residential by 1.4% during the second quarter. Chicago Partners Investment Group LLC now owns 12,334 shares of the real estate investment trust’s stock worth $967,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets cut shares of Equity Residential from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $70.00 to $61.00 in a report on Friday, December 16th. Stifel Nicolaus cut their target price on shares of Equity Residential from $84.00 to $75.00 in a report on Friday, October 7th. Piper Sandler cut their target price on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a report on Friday, October 7th. Truist Financial raised shares of 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. Finally, Argus raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Thursday, November 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.56.

Insiders Place Their Bets

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 sale, the director now directly owns 3,392 shares in the company, valued at approximately $212,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Equity Residential Stock Performance

NYSE:EQR opened at $61.60 on Tuesday. The firm’s fifty day moving average price is $61.28 and its 200 day moving average price is $67.20. Equity Residential has a 1-year low of $57.38 and a 1-year high of $94.32. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

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 given a $0.625 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $2.50 dividend on an annualized basis and a yield of 4.06%. Equity Residential’s dividend payout ratio (DPR) is 82.24%.

Equity Residential Profile

(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.

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

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