Creative Planning Has $1.34 Million Position in Equity Residential (NYSE:EQR)

Creative Planning increased its holdings in shares of Equity Residential (NYSE:EQR) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,957 shares of the real estate investment trust’s stock after buying an additional 1,310 shares during the period. Creative Planning’s holdings in Equity Residential were worth $1,337,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EQR. Fidelis Capital Partners LLC acquired a new position in shares of Equity Residential during the first quarter worth $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 during the period. Massmutual Trust Co. FSB ADV grew its position in shares of 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 last quarter. HHM Wealth Advisors LLC increased its stake 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 buying an additional 327 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of Equity Residential during the first quarter worth about $41,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EQR shares. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and upped their target price for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective for the company. UBS Group boosted their target price on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Scotiabank upped their price target on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $73.95 on Thursday. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83. The stock’s 50 day moving average is $74.83 and its 200-day moving average is $69.96. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $28.07 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 6.17 and a beta of 0.89.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. During the same period last year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid 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 yield of 3.65%. Equity Residential’s dividend payout ratio (DPR) is currently 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.