Gulf International Bank UK Ltd Sells 1,420 Shares of Equity Residential (NYSE:EQR)

Gulf International Bank UK Ltd reduced its position in shares of Equity Residential (NYSE:EQR) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,379 shares of the real estate investment trust’s stock after selling 1,420 shares during the period. Gulf International Bank UK Ltd’s holdings in Equity Residential were worth $2,113,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQR. Maryland Capital Advisors Inc. acquired a new position in Equity Residential during the 3rd quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Equity Residential during the first quarter worth $27,000. UMB Bank n.a. grew its position 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 valued at $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in 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. Finally, HHM Wealth Advisors LLC lifted its position in 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 in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Trading Down 0.9 %

Shares of NYSE:EQR opened at $71.38 on Thursday. The stock has a market cap of $27.06 billion, a PE ratio of 29.25, a P/E/G ratio of 5.77 and a beta of 0.90. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12-month low of $53.48 and a 12-month high of $78.83. The business has a 50 day moving average of $74.56 and a 200-day moving average of $70.31.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is 110.66%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $69.00 to $77.00 in a research note on Monday, August 26th. BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 target price on the stock. 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 research note 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 has an average rating of “Hold” and a consensus price target of $76.19.

Equity Residential 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.