Deutsche Bank AG Sells 218,326 Shares of Equity Residential (NYSE:EQR)

Deutsche Bank AG decreased its holdings in shares of Equity Residential (NYSE:EQRGet 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

Shares of NYSE EQR opened at $62.96 on Wednesday. The business’s 50 day moving average price is $64.75 and its two-hundred day moving average price is $71.03. The company has a market cap of $23.79 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67. Equity Residential has a twelve month low of $59.32 and a twelve month high of $94.32.

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

(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.

Further Reading

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

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