Nicola Wealth Management LTD. Reduces Stock Position in Equity Residential (NYSE:EQR)

Nicola Wealth Management LTD. decreased its stake in shares of Equity Residential (NYSE:EQR) by 25.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,828 shares of the real estate investment trust’s stock after selling 5,500 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Equity Residential were worth $1,179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. acquired a new stake in shares of Equity Residential during the 3rd quarter worth approximately $25,000. Assetmark Inc. boosted its stake in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares during the period. UMB Bank n.a. increased its position in shares of Equity Residential by 69.6% during 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 during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC grew its holdings 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 valued at $38,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQR. Royal Bank of Canada cut their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the company from $77.75 to $81.50 in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target on the stock. Piper Sandler lifted their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial increased their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Eleven investment 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 presently has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Performance

Shares of Equity Residential stock traded down $0.69 during trading on Thursday, reaching $73.95. The company’s stock had a trading volume of 290,829 shares, compared to its average volume of 1,844,785. Equity Residential has a one year low of $54.53 and a one year high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 5.94 and a beta of 0.90. The business’s fifty day moving average price is $74.39 and its 200-day moving average price is $70.63.

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 issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 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.