Wellington Management Group LLP Lowers Stock Holdings in Equity Residential (NYSE:EQR)

Wellington Management Group LLP cut its stake in shares of Equity Residential (NYSE:EQRFree Report) by 29.3% in the 3rd quarter, Holdings Channel reports. The fund owned 64,347 shares of the real estate investment trust’s stock after selling 26,615 shares during the quarter. Wellington Management Group LLP’s holdings in Equity Residential were worth $4,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential in the third quarter valued at approximately $25,000. Assetmark Inc. increased its stake in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. Brooklyn Investment Group purchased a new position in Equity Residential during the 3rd quarter worth $33,000. UMB Bank n.a. lifted its stake 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 acquiring an additional 195 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Equity Residential by 146.6% in 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 in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EQR shares. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and raised their price objective for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. Finally, BNP Paribas started coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.25.

Check Out Our Latest Stock Analysis on Equity Residential

Equity Residential Stock Performance

Equity Residential stock opened at $73.45 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83. The stock has a fifty day moving average of $73.94 and a two-hundred day moving average of $72.07. The company has a market capitalization of $27.87 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 5.90 and a beta of 0.92.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, January 2nd. Equity Residential’s payout ratio is 110.66%.

Equity Residential Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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