MML Investors Services LLC Sells 288 Shares of Equity Residential (NYSE:EQR)

MML Investors Services LLC decreased its holdings in Equity Residential (NYSE:EQR) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,837 shares of the real estate investment trust’s stock after selling 288 shares during the period. MML Investors Services LLC’s holdings in Equity Residential were worth $286,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in shares of Equity Residential by 1.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after purchasing an additional 60,000 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Equity Residential during the 3rd quarter valued at $923,000. Quest Partners LLC increased its stake in shares of Equity Residential by 244,571.4% in the 2nd quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock worth $1,188,000 after acquiring an additional 17,120 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Equity Residential by 18.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock valued at $3,328,000 after acquiring an additional 7,549 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Equity Residential by 1,279.0% in the second quarter. Acadian Asset Management LLC now owns 48,210 shares of the real estate investment trust’s stock worth $3,339,000 after purchasing an additional 44,714 shares during the period. Institutional investors own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQR. BNP Paribas started coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. StockNews.com cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Evercore ISI lifted their target price 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. Finally, Truist Financial increased their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and an average price target of $78.14.

Equity Residential Trading Up 1.1 %

Equity Residential stock opened at $72.22 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The firm’s 50 day moving average price is $73.72 and its 200-day moving average price is $72.32. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83. The stock has a market cap of $27.40 billion, a P/E ratio of 29.60, a PEG ratio of 5.90 and a beta of 0.92.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.74%. Equity Residential’s dividend payout ratio (DPR) 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.