Equity Residential (NYSE:EQR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its stake in shares of Equity Residential (NYSE:EQR) by 17.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 492,590 shares of the real estate investment trust’s stock after selling 102,184 shares during the period. National Bank of Canada FI’s holdings in Equity Residential were worth $36,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential during the third quarter worth about $25,000. Assetmark Inc. increased its stake in Equity Residential by 2,529.4% during 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. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the third quarter valued at approximately $33,000. UMB Bank n.a. lifted its position in shares of 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 acquiring an additional 195 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Equity Residential by 146.6% in 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 during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on EQR. BNP Paribas started coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective for the company. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Royal Bank of Canada lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Up 0.5 %

Shares of EQR opened at $73.75 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The firm has a market cap of $27.98 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The company’s 50-day moving average price is $73.98 and its 200 day moving average price is $71.71. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. Equity Residential’s dividend payout ratio is currently 110.66%.

Equity Residential Company 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.