4,252 Shares in Equity Residential (NYSE:EQR) Bought by Synovus Financial Corp

Synovus Financial Corp purchased a new position in Equity Residential (NYSE:EQRGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,252 shares of the real estate investment trust’s stock, valued at approximately $307,000.

Several other large investors also recently bought and sold shares of the business. Mutual of America Capital Management LLC increased its position in Equity Residential by 2.3% in the second quarter. Mutual of America Capital Management LLC now owns 46,657 shares of the real estate investment trust’s stock worth $3,370,000 after purchasing an additional 1,050 shares during the last quarter. Mackenzie Financial Corp increased its position in Equity Residential by 15.8% in the second quarter. Mackenzie Financial Corp now owns 52,706 shares of the real estate investment trust’s stock worth $3,806,000 after purchasing an additional 7,179 shares during the last quarter. Principal Financial Group Inc. increased its position in Equity Residential by 369.7% in the second quarter. Principal Financial Group Inc. now owns 2,025,015 shares of the real estate investment trust’s stock worth $146,246,000 after purchasing an additional 1,593,884 shares during the last quarter. Cerity Partners LLC increased its position in Equity Residential by 179.2% during the second quarter. Cerity Partners LLC now owns 12,295 shares of the real estate investment trust’s stock valued at $888,000 after acquiring an additional 7,892 shares during the last quarter. Finally, Qtron Investments LLC bought a new position in Equity Residential during the second quarter valued at $299,000. Institutional investors own 83.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EQR. StockNews.com began coverage on shares of Equity Residential in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays cut their price objective on shares of Equity Residential from $88.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 10th. Evercore ISI cut their price objective on shares of Equity Residential to $75.00 in a research report on Thursday, October 13th. Piper Sandler cut their price objective on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a research report on Friday, October 7th. Finally, Argus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.00.

Equity Residential Stock Up 1.9 %

NYSE:EQR opened at $62.93 on Monday. Equity Residential has a 1-year low of $59.32 and a 1-year high of $94.32. The company has a 50-day moving average of $65.29 and a 200 day moving average of $71.24. The firm has a market cap of $23.78 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.20 and a quick ratio of 0.20.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, September 26th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Friday, September 23rd. Equity Residential’s dividend payout ratio (DPR) is presently 82.24%.

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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