Equity Residential (NYSE:EQR) Shares Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. increased its position in Equity Residential (NYSE:EQR) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,872 shares of the real estate investment trust’s stock after acquiring an additional 698 shares during the period. Contravisory Investment Management Inc.’s holdings in Equity Residential were worth $7,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential during the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential in the 3rd quarter valued at about $29,000. Assetmark Inc. grew its holdings in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares during the period. Brooklyn Investment Group acquired a new stake in Equity Residential during the third quarter worth about $33,000. Finally, UMB Bank n.a. lifted 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 valued at $35,000 after acquiring an additional 195 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR opened at $69.46 on Thursday. The stock’s 50-day moving average price is $72.60 and its 200 day moving average price is $72.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 5.25 and a beta of 0.93.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Thursday, January 2nd. Equity Residential’s dividend payout ratio is presently 110.66%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada dropped their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho reduced their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday. Barclays initiated coverage on Equity Residential in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $83.00 price target on the stock. Finally, Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.69.

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.