Toronto Dominion Bank Sells 34,587 Shares of Equity Residential (NYSE:EQR)

Toronto Dominion Bank cut its stake in Equity Residential (NYSE:EQR) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,111 shares of the real estate investment trust’s stock after selling 34,587 shares during the quarter. Toronto Dominion Bank’s holdings in Equity Residential were worth $11,726,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQR. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential in the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new position in shares of Equity Residential during the fourth quarter worth about $33,000. HHM Wealth Advisors LLC grew its holdings in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in Equity Residential in the 1st quarter valued at approximately $41,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, UBS Group lifted their target price on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Equity Residential presently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Performance

NYSE:EQR opened at $73.97 on Friday. The company has a market cap of $28.08 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 5.60 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a fifty day moving average price of $73.23 and a 200-day moving average price of $67.97.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. During the same period in the prior year, the company earned $0.94 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.65%. Equity Residential’s dividend payout ratio is 112.03%.

Equity Residential Company Profile

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.