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

Swedbank AB reduced its stake in Equity Residential (NYSE:EQR) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,654 shares of the real estate investment trust’s stock after selling 166 shares during the quarter. Swedbank AB’s holdings in Equity Residential were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new stake in Equity Residential in the third quarter valued at approximately $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. UMB Bank n.a. raised its stake in 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 in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 327 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on EQR. Wedbush lifted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. The Goldman Sachs Group began coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target on the stock. Evercore ISI lifted their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank decreased their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Performance

NYSE:EQR opened at $77.47 on Thursday. The stock has a market cap 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. The firm’s fifty day simple moving average is $74.09 and its 200 day simple moving average is $71.28. Equity Residential has a twelve month low of $56.05 and a twelve month high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

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 3.49%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

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.