Dakota Wealth Management Purchases 9,333 Shares of Equity Residential (NYSE:EQR)

Dakota Wealth Management grew its position in shares of Equity Residential (NYSE:EQR) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,113 shares of the real estate investment trust’s stock after buying an additional 9,333 shares during the quarter. Dakota Wealth Management’s holdings in Equity Residential were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. bought a new stake in shares of Equity Residential in the 3rd quarter worth approximately $114,000. Assenagon Asset Management S.A. raised its holdings in shares of Equity Residential by 115.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,678 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 3,585 shares during the period. International Assets Investment Management LLC purchased a new position in Equity Residential in the 3rd quarter valued at approximately $2,233,000. U.S. Capital Wealth Advisors LLC grew its stake in Equity Residential by 6.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 59,495 shares of the real estate investment trust’s stock valued at $4,430,000 after buying an additional 3,347 shares in the last quarter. Finally, Maryland Capital Advisors Inc. purchased a new position in Equity Residential in the 3rd quarter valued at approximately $25,000. Institutional investors own 92.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQR shares. Royal Bank of Canada lifted their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Truist Financial lifted their price objective 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. The Goldman Sachs Group started coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $75.97.

Equity Residential Stock Down 1.8 %

EQR opened at $74.67 on Friday. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $74.61 and its 200-day moving average price is $69.60. The company has a market cap of $28.34 billion, a P/E ratio of 30.98, a P/E/G ratio of 6.05 and a beta of 0.89.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company had revenue of $734.20 million during 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% on a year-over-year basis. On average, equities analysts expect that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s 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.