Commerzbank Aktiengesellschaft FI Sells 9,371 Shares of Equity Residential (NYSE:EQR)

Commerzbank Aktiengesellschaft FI cut its stake in Equity Residential (NYSE:EQR) by 54.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,694 shares of the real estate investment trust’s stock after selling 9,371 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Equity Residential were worth $573,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EQR. Maryland Capital Advisors Inc. purchased a new position in Equity Residential in the third quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential in the 1st quarter valued at about $27,000. UMB Bank n.a. grew its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in 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 valued at $38,000 after acquiring an additional 327 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Truist Financial boosted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wedbush increased their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler increased their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.97.

Equity Residential Stock Up 2.3 %

Equity Residential stock opened at $75.87 on Thursday. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89. The business’s 50-day moving average price is $74.52 and its 200 day moving average price is $69.55. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last posted its earnings results 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 net margin of 32.83% and a return on equity of 8.53%. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. During the same period last year, the firm earned $0.94 earnings per share. Equity Residential’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

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 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.