PNC Financial Services Group Inc. Has $4.49 Million Holdings in Equity Residential (NYSE:EQR)

PNC Financial Services Group Inc. grew its holdings in Equity Residential (NYSE:EQR) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,287 shares of the real estate investment trust’s stock after buying an additional 7,315 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equity Residential were worth $4,489,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential in the 3rd quarter valued at $25,000. Assetmark Inc. raised its stake in shares of 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 in the last quarter. UMB Bank n.a. raised 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 valued at $35,000 after buying an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings 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 worth $36,000 after purchasing an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew 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 during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the topic of several analyst reports. Wells Fargo & Company lowered shares of Equity Residential from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wedbush increased their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group started coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Price Performance

Shares of EQR opened at $75.79 on Monday. The stock has a market capitalization of $28.76 billion, a P/E ratio of 31.06, a P/E/G ratio of 6.09 and a beta of 0.90. Equity Residential has a twelve month low of $56.05 and a twelve month high of $78.83. The company has a 50 day moving average of $74.12 and a 200-day moving average of $71.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. Equity Residential’s dividend payout ratio is currently 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.