UMB Bank n.a. Raises Stock Holdings in Equity Residential (NYSE:EQR)

UMB Bank n.a. boosted its stake in Equity Residential (NYSE:EQR) by 69.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475 shares of the real estate investment trust’s stock after purchasing an additional 195 shares during the quarter. UMB Bank n.a.’s holdings in Equity Residential were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Equity Residential during the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV lifted its stake in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Equity Residential by 146.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Richardson Financial Services Inc. bought a new position in shares of Equity Residential during the 1st quarter valued at about $41,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Equity Residential during the 2nd quarter valued at about $50,000. 92.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQR has been the subject of several research reports. BNP Paribas initiated coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price for the company. Scotiabank increased their target price on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. UBS Group upped their price target on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Evercore ISI lifted their price objective on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.97.

Equity Residential Stock Up 0.4 %

Shares of NYSE EQR opened at $73.96 on Wednesday. The firm has a fifty day simple moving average of $74.03 and a two-hundred day simple moving average of $69.04. 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 firm has a market capitalization of $28.07 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate 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 quarter last year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect 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 issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

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.