Wealth Enhancement Advisory Services LLC Lowers Holdings in Equity Residential (NYSE:EQR)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Equity Residential (NYSE:EQR) by 23.4% in the third quarter, HoldingsChannel.com reports. The firm owned 19,392 shares of the real estate investment trust’s stock after selling 5,913 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Equity Residential were worth $1,444,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EQR. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential in the 3rd quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Equity Residential in the first quarter valued at approximately $27,000. UMB Bank n.a. lifted its holdings in Equity Residential by 69.6% during 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 in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC increased its position 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 acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EQR shares. UBS Group upped their target price on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Scotiabank boosted their target price on Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Evercore ISI increased their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wedbush upped their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Piper Sandler boosted their target price on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $76.19.

Equity Residential Stock Performance

Equity Residential stock opened at $70.22 on Tuesday. The stock has a fifty day moving average price of $74.64 and a 200 day moving average price of $70.23. The company has a current ratio of 0.13, a quick ratio of 0.21 and a debt-to-equity ratio of 0.76. Equity Residential has a 52 week low of $53.48 and a 52 week high of $78.83. The firm has a market capitalization of $26.62 billion, a P/E ratio of 28.78, a PEG ratio of 5.88 and a beta of 0.90.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Equity Residential 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.