Swiss National Bank Purchases 2,600 Shares of Equity Residential (NYSE:EQR)

Swiss National Bank increased its holdings in shares of Equity Residential (NYSE:EQR) by 0.3% in the third quarter, HoldingsChannel reports. The firm owned 1,012,350 shares of the real estate investment trust’s stock after buying an additional 2,600 shares during the period. Swiss National Bank’s holdings in Equity Residential were worth $75,380,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential during the 3rd quarter worth approximately $25,000. Assetmark Inc. boosted its position 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 purchasing an additional 430 shares during the period. UMB Bank n.a. increased its holdings in shares of 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 during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC lifted 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 and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Performance

NYSE EQR opened at $74.50 on Wednesday. The firm’s 50 day simple moving average is $74.26 and its 200 day simple moving average is $70.92. The firm has a market capitalization of $28.27 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 5.98 and a beta of 0.90. 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 1 year low of $54.70 and a 1 year high of $78.83.

Equity Residential Dividend Announcement

The firm also recently announced 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 dividend yield of 3.62%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQR. BNP Paribas initiated coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their price target for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Piper Sandler boosted their target price on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.25.

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.