HighTower Advisors LLC Purchases 4,764 Shares of Equity Residential (NYSE:EQR)

HighTower Advisors LLC lifted its position in Equity Residential (NYSE:EQR) by 39.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,795 shares of the real estate investment trust’s stock after buying an additional 4,764 shares during the period. HighTower Advisors LLC’s holdings in Equity Residential were worth $1,245,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EQR. Maryland Capital Advisors Inc. bought a new position in Equity Residential during the 3rd quarter worth about $25,000. Assetmark Inc. increased its holdings in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group bought a new position in Equity Residential during the 3rd quarter worth about $33,000. UMB Bank n.a. boosted its stake in shares of 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 last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQR. Stifel Nicolaus upgraded shares of 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 note on Wednesday, November 13th. Truist Financial increased their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and raised their target price for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, Evercore ISI raised their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Trading Up 0.2 %

Shares of EQR stock opened at $73.45 on Tuesday. Equity Residential has a 52-week low of $57.33 and a 52-week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50-day simple moving average of $73.94 and a two-hundred day simple 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 business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, January 2nd. Equity Residential’s payout ratio is 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.