103,174 Shares in Equity Residential (NYSE:EQR) Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. acquired a new stake in shares of Equity Residential (NYSE:EQR) during the 3rd quarter, HoldingsChannel reports. The fund acquired 103,174 shares of the real estate investment trust’s stock, valued at approximately $7,682,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tobam grew its holdings in shares of Equity Residential by 8.6% during the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 152 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 153 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Equity Residential by 41.9% in 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. increased its holdings in shares of 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 purchasing an additional 195 shares during the last quarter. Finally, Mystic Asset Management Inc. lifted its position in Equity Residential by 3.8% during the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 200 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EQR shares. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Scotiabank lifted their price target on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Truist Financial increased their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Evercore ISI upped their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Equity Residential presently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Down 0.6 %

Shares of NYSE EQR opened at $72.16 on Friday. The business has a 50-day moving average price of $73.80 and a 200 day moving average price of $68.69. The stock has a market cap of $27.36 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the previous year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts forecast that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be issued a dividend of $0.675 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.74%. Equity Residential’s dividend payout ratio is currently 107.57%.

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 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.