Deutsche Bank AG decreased its holdings in shares of Equity Residential (NYSE:EQR – Get Rating) by 22.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 758,953 shares of the real estate investment trust’s stock after selling 218,326 shares during the quarter. Deutsche Bank AG owned about 0.20% of Equity Residential worth $54,812,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Equity Residential in the 1st quarter valued at approximately $40,000. Allworth Financial LP raised its holdings in Equity Residential by 48.2% in the 2nd quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 158 shares in the last quarter. MCF Advisors LLC acquired a new position in Equity Residential in the 1st quarter valued at approximately $48,000. Venture Visionary Partners LLC acquired a new position in Equity Residential in the 2nd quarter valued at approximately $51,000. Finally, CX Institutional acquired a new position in Equity Residential in the 2nd quarter valued at approximately $55,000. Institutional investors own 83.92% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on EQR. Barclays cut their price target on Equity Residential from $88.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, November 10th. UBS Group raised their price target on Equity Residential from $83.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Stifel Nicolaus reduced their target price on Equity Residential from $84.00 to $75.00 in a report on Friday, October 7th. BMO Capital Markets lowered Equity Residential from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $88.00 to $74.00 in a report on Thursday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Equity Residential from $85.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.56.
Equity Residential Price Performance
Equity Residential Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Monday, September 26th were given a dividend of $0.625 per share. 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
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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