Equity Residential (NYSE:EQR) Shares Purchased by Smithfield Trust Co

Smithfield Trust Co increased its position in shares of Equity Residential (NYSE:EQR) by 20.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,209 shares of the real estate investment trust’s stock after purchasing an additional 209 shares during the quarter. Smithfield Trust Co’s holdings in Equity Residential were worth $89,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. raised its holdings in Equity Residential by 466.8% during the third quarter. Landscape Capital Management L.L.C. now owns 18,574 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 15,297 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Equity Residential in the third quarter worth $7,384,000. PNC Financial Services Group Inc. raised its holdings in shares of Equity Residential by 13.8% in the third quarter. PNC Financial Services Group Inc. now owns 60,287 shares of the real estate investment trust’s stock worth $4,489,000 after acquiring an additional 7,315 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Equity Residential in the third quarter valued at $1,987,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Equity Residential by 1,255.6% during the third quarter. Meeder Asset Management Inc. now owns 2,901 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 2,687 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQR has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Royal Bank of Canada decreased their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Piper Sandler increased their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Performance

Shares of NYSE:EQR opened at $75.18 on Friday. The company has a market cap of $28.53 billion, a P/E ratio of 30.81, a PEG ratio of 6.06 and a beta of 0.90. 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 one year low of $56.05 and a one year high of $78.83. The business’s 50-day simple moving average is $74.16 and its 200 day simple moving average is $70.97.

Equity Residential Announces Dividend

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