US Bancorp DE Grows Position in Equity Residential (NYSE:EQR)

US Bancorp DE boosted its position in shares of Equity Residential (NYSE:EQR) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,214 shares of the real estate investment trust’s stock after buying an additional 365 shares during the period. US Bancorp DE’s holdings in Equity Residential were worth $2,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. purchased a new stake in shares of Equity Residential in the third quarter valued at about $3,960,000. abrdn plc increased its position in Equity Residential by 1.3% in the 3rd quarter. abrdn plc now owns 234,597 shares of the real estate investment trust’s stock valued at $17,413,000 after acquiring an additional 2,973 shares during the period. Vanderbilt University raised its stake in Equity Residential by 5.4% during the 3rd quarter. Vanderbilt University now owns 37,184 shares of the real estate investment trust’s stock valued at $2,769,000 after acquiring an additional 1,898 shares during the last quarter. Summit Place Financial Advisors LLC lifted its position in Equity Residential by 217.3% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 19,035 shares of the real estate investment trust’s stock worth $1,417,000 after acquiring an additional 13,035 shares during the period. Finally, Richardson Financial Services Inc. grew its stake in shares of Equity Residential by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,300 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their price target on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Truist Financial raised their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $76.19.

Equity Residential Stock Down 0.9 %

EQR opened at $71.38 on Thursday. The firm has a market cap of $27.06 billion, a P/E ratio of 29.25, a PEG ratio of 5.77 and a beta of 0.90. The business’s fifty day simple moving average is $74.56 and its 200 day simple moving average is $70.31. Equity Residential has a 52 week low of $53.48 and a 52 week high of $78.83. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.78%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

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.