Toroso Investments LLC boosted its stake in Equity Residential (NYSE:EQR – Get Rating) by 27.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,238 shares of the real estate investment trust’s stock after purchasing an additional 5,506 shares during the quarter. Toroso Investments LLC’s holdings in Equity Residential were worth $2,269,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in EQR. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Equity Residential in the 1st quarter valued at about $40,000. DAVENPORT & Co LLC raised its holdings in shares of Equity Residential by 11.2% during the 1st quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 289 shares in the last quarter. Versor Investments LP raised its holdings in shares of Equity Residential by 26.9% during the 1st quarter. Versor Investments LP now owns 10,834 shares of the real estate investment trust’s stock valued at $974,000 after buying an additional 2,294 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Equity Residential during the 1st quarter valued at about $194,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Equity Residential by 22.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 179 shares in the last quarter. Institutional investors own 83.92% of the company’s stock.
Equity Residential Trading Down 1.7 %
NYSE EQR opened at $72.93 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.72. Equity Residential has a twelve month low of $67.48 and a twelve month high of $94.32. The firm has a market capitalization of $27.43 billion, a PE ratio of 22.26, a P/E/G ratio of 3.19 and a beta of 0.82. The stock’s 50 day moving average is $75.23 and its 200 day moving average is $79.24.
Equity Residential Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, September 26th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 3.43%. Equity Residential’s dividend payout ratio is presently 75.08%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Credit Suisse Group assumed coverage on Equity Residential in a report on Wednesday, June 22nd. They set an “outperform” rating and a $80.00 price objective on the stock. Barclays raised their price objective on Equity Residential from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday. Scotiabank decreased their price target on Equity Residential from $92.00 to $90.00 in a research note on Thursday, May 19th. Evercore ISI set a $86.00 price target on Equity Residential in a research note on Monday, June 20th. Finally, Jefferies Financial Group decreased their price target on Equity Residential from $78.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Equity Residential has an average rating of “Hold” and a consensus target price of $84.94.
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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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