Prestige Wealth Management Group LLC Has $331,000 Holdings in Equity Residential (NYSE:EQR)

Prestige Wealth Management Group LLC boosted its holdings in shares of Equity Residential (NYSE:EQR) by 73,283.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,403 shares of the real estate investment trust’s stock after purchasing an additional 4,397 shares during the period. Prestige Wealth Management Group LLC’s holdings in Equity Residential were worth $331,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in shares of Equity Residential in the third quarter valued at $25,000. Assetmark Inc. grew its holdings in Equity Residential by 2,529.4% during the 3rd 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. Brooklyn Investment Group acquired a new stake in Equity Residential in the 3rd quarter valued at about $33,000. UMB Bank n.a. raised its stake 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 acquiring an additional 195 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

EQR has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Truist Financial upped their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI upped their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, BNP Paribas initiated coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus price target of $77.25.

Equity Residential Trading Down 0.1 %

Shares of Equity Residential stock opened at $73.66 on Tuesday. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $73.97 and its 200-day moving average is $71.76. The stock has a market cap of $27.95 billion, a P/E ratio of 30.19, a P/E/G ratio of 5.98 and a beta of 0.92.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.67%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 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.