Eventide Asset Management LLC Invests $19.81 Million in Equity Residential (NYSE:EQR)

Eventide Asset Management LLC bought a new position in Equity Residential (NYSE:EQR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 266,088 shares of the real estate investment trust’s stock, valued at approximately $19,813,000.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB purchased a new position in shares of Equity Residential in the 1st quarter worth about $1,644,000. PGGM Investments lifted its holdings in Equity Residential by 148.2% during the first quarter. PGGM Investments now owns 6,879 shares of the real estate investment trust’s stock valued at $434,000 after purchasing an additional 4,108 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Equity Residential during the first quarter valued at about $2,841,000. Cetera Advisors LLC lifted its holdings in Equity Residential by 3.7% during the first quarter. Cetera Advisors LLC now owns 33,184 shares of the real estate investment trust’s stock valued at $2,094,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Boston Partners lifted its holdings in Equity Residential by 4.3% during the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after purchasing an additional 112,270 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.5 %

Shares of Equity Residential stock opened at $77.48 on Friday. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 6.28 and a beta of 0.90. The business has a 50-day moving average price of $74.10 and a 200-day moving average price of $71.33. 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 has a twelve month low of $56.05 and a twelve month high of $78.83.

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 given a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.48%. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Upgrades and Downgrades

EQR has been the topic of several recent research reports. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Truist Financial increased their price target on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and an average price target of $77.25.

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.