Integrated Wealth Concepts LLC Takes $225,000 Position in Equity Residential (NYSE:EQR)

Integrated Wealth Concepts LLC acquired a new stake in Equity Residential (NYSE:EQRGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,114 shares of the real estate investment trust’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its position in shares of Equity Residential by 48.2% in the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Equity Residential in the first quarter valued at $40,000. MCF Advisors LLC acquired a new position in Equity Residential in the first quarter valued at $48,000. Venture Visionary Partners LLC acquired a new position in Equity Residential in the second quarter valued at $51,000. Finally, CX Institutional acquired a new position in Equity Residential in the second quarter valued at $55,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

Equity Residential Stock Down 1.9 %

Shares of Equity Residential stock opened at $61.57 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67. The firm has a market cap of $23.27 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.62 and a beta of 0.77. Equity Residential has a fifty-two week low of $59.32 and a fifty-two week high of $94.32. The business has a 50-day moving average price of $66.42 and a 200 day moving average price of $71.75.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, September 26th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Friday, September 23rd. Equity Residential’s dividend payout ratio is currently 82.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EQR. UBS Group lifted their target price on Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a report on Friday, July 29th. Evercore ISI reduced their price objective on Equity Residential to $75.00 in a research note on Thursday, October 13th. BMO Capital Markets cut Equity Residential from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $88.00 to $74.00 in a research note on Thursday, October 6th. Piper Sandler reduced their price objective on Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a research note on Friday, October 7th. Finally, StockNews.com began coverage on Equity Residential in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.33.

Equity Residential Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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