E. Ohman J or Asset Management AB Makes New Investment in Equity Residential (NYSE:EQR)

E. Ohman J or Asset Management AB bought a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,000 shares of the real estate investment trust’s stock, valued at approximately $1,042,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tobam raised its holdings in Equity Residential by 8.6% in the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 152 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Equity Residential by 4.5% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 153 shares during the period. Massmutual Trust Co. FSB ADV boosted 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 acquiring an additional 155 shares in the last quarter. UMB Bank n.a. grew its holdings in Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the period. Finally, Mystic Asset Management Inc. increased its stake in shares of Equity Residential by 3.8% during the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Down 1.8 %

NYSE:EQR opened at $74.67 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The business has a fifty day moving average price of $74.68 and a 200-day moving average price of $69.67. The firm has a market capitalization of $28.31 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 6.17 and a beta of 0.89. Equity Residential has a one year low of $52.57 and a one year high of $78.83.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter 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 year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 yield of 3.62%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 107.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQR. Royal Bank of Canada boosted their price target on Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price for the company. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. 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 objective for the company. Finally, UBS Group increased their target price on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $75.97.

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.