Bank of Nova Scotia Has $2.28 Million Stock Holdings in Equity Residential (NYSE:EQR)

Bank of Nova Scotia cut its stake in shares of Equity Residential (NYSE:EQRGet Rating) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,518 shares of the real estate investment trust’s stock after selling 13,932 shares during the period. Bank of Nova Scotia’s holdings in Equity Residential were worth $2,276,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Equity Residential by 3.6% during the second quarter. Envestnet Asset Management Inc. now owns 112,936 shares of the real estate investment trust’s stock valued at $8,156,000 after purchasing an additional 3,959 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Equity Residential in the first quarter valued at approximately $40,000. DAVENPORT & Co LLC lifted its position in shares of Equity Residential by 11.2% in the first 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 during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Equity Residential by 2.7% in the second quarter. Handelsbanken Fonder AB now owns 121,290 shares of the real estate investment trust’s stock valued at $8,760,000 after buying an additional 3,170 shares during the last quarter. Finally, Versor Investments LP lifted its position in shares of Equity Residential by 26.9% in the first 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 during the last quarter. 83.92% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

Equity Residential stock opened at $61.55 on Thursday. Equity Residential has a one year low of $59.32 and a one year high of $94.32. The stock’s fifty day moving average price is $65.87 and its two-hundred day moving average price is $71.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market cap of $23.26 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77.

Equity Residential Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on EQR shares. Jefferies Financial Group cut their price objective on Equity Residential from $72.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 19th. Piper Sandler cut their price objective on Equity Residential from $70.00 to $62.00 and set an “underweight” rating for the company in a research report on Friday, October 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Equity Residential from $85.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, October 4th. Barclays cut their price objective on Equity Residential from $88.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, November 10th. Finally, Morgan Stanley lowered their target price on Equity Residential from $83.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, October 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus price target of $78.33.

About Equity Residential

(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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