Richardson Financial Services Inc. Sells 650 Shares of Equity Residential (NYSE:EQR)

Richardson Financial Services Inc. decreased its holdings in shares of Equity Residential (NYSE:EQR) by 50.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 650 shares of the real estate investment trust’s stock after selling 650 shares during the period. Richardson Financial Services Inc.’s holdings in Equity Residential were worth $47,000 at the end of the most recent reporting period.

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. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential in the third quarter valued at approximately $29,000. Brooklyn Investment Group bought a new stake in Equity Residential during the third quarter valued at approximately $33,000. Assetmark Inc. grew its stake in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Mizuho reduced their target price on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Barclays reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Equity Residential presently has a consensus rating of “Hold” and an average target price of $78.36.

Equity Residential Stock Performance

Equity Residential stock opened at $70.61 on Monday. The stock’s 50 day moving average is $71.49 and its 200 day moving average is $72.68. The company has a market capitalization of $26.79 billion, a P/E ratio of 28.94, a PEG ratio of 4.21 and a beta of 0.93. Equity Residential has a twelve month low of $57.33 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, January 17th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.82%. Equity Residential’s payout ratio is presently 110.66%.

About Equity Residential

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.