Erste Asset Management GmbH Invests $2.22 Million in Equity Residential (NYSE:EQR)

Erste Asset Management GmbH acquired a new stake in shares of Equity Residential (NYSE:EQR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the real estate investment trust’s stock, valued at approximately $2,219,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential during the 3rd quarter valued at about $25,000. Assetmark Inc. raised its stake in 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 in the last quarter. Brooklyn Investment Group bought a new stake in Equity Residential during the third quarter valued at approximately $33,000. UMB Bank n.a. grew its stake in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of 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 buying an additional 155 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Price Performance

Shares of EQR stock opened at $75.24 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83. The firm has a market cap of $28.55 billion, a P/E ratio of 30.84, a P/E/G ratio of 6.22 and a beta of 0.90. The business’s 50 day moving average price is $74.10 and its 200-day moving average price is $71.45.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.59%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EQR shares. Evercore ISI lifted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. BNP Paribas started coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price for the company. Royal Bank of Canada reduced their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Company 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.