Edgestream Partners L.P. Grows Stake in Equity Residential (NYSE:EQR)

Edgestream Partners L.P. raised its position in shares of Equity Residential (NYSE:EQR) by 27.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,781 shares of the real estate investment trust’s stock after purchasing an additional 7,793 shares during the quarter. Edgestream Partners L.P.’s holdings in Equity Residential were worth $2,664,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Maryland Capital Advisors Inc. bought a new stake in Equity Residential during the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the third quarter valued at about $33,000. Assetmark Inc. boosted its position in shares of 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 last quarter. UMB Bank n.a. lifted its position 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 worth $35,000 after buying an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Equity Residential by 41.9% during 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 in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

EQR has been the subject of a number of recent research reports. Wells Fargo & Company lowered 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 report on Monday, August 26th. Scotiabank reduced their target price on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. BNP Paribas began coverage on Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective on the stock. Finally, Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and boosted their target price for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus price target of $77.25.

Equity Residential Trading Down 1.9 %

NYSE:EQR opened at $75.24 on Tuesday. The firm has a 50-day simple moving average of $74.10 and a 200-day simple moving average of $71.45. Equity Residential has a one year low of $57.33 and a one year high of $78.83. The firm has a market cap of $28.55 billion, a P/E ratio of 30.84, a P/E/G ratio of 6.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13.

Equity Residential Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.59%. Equity Residential’s dividend payout ratio is presently 110.66%.

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.