Swedbank AB Lowers Stock Position in Equity Residential (NYSE:EQR)

Swedbank AB lowered its position in Equity Residential (NYSE:EQR) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,654 shares of the real estate investment trust’s stock after selling 166 shares during the period. Swedbank AB’s holdings in Equity Residential were worth $1,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential in the third quarter valued at about $25,000. Assetmark Inc. raised its holdings in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the last quarter. UMB Bank n.a. raised 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. Massmutual Trust Co. FSB ADV raised its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $77.47 on Thursday. The firm has a 50 day moving average of $74.09 and a 200-day moving average of $71.28. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83. The firm has a market capitalization of $29.39 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 6.20 and a beta of 0.90.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.49%. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EQR shares. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Piper Sandler raised their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank decreased their price objective on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, Wedbush raised their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.25.

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.