Peapack Gladstone Financial Corp Cuts Stake in Equity Residential (NYSE:EQR)

Peapack Gladstone Financial Corp cut its holdings in shares of Equity Residential (NYSE:EQR) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,792 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equity Residential were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EQR. Tobam grew its holdings in shares of Equity Residential by 8.6% during the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 152 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 153 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Equity Residential by 32.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 200 shares during the period. Finally, Modera Wealth Management LLC lifted its stake in shares of Equity Residential by 6.5% in the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 200 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on EQR. StockNews.com cut Equity Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Evercore ISI increased their price target on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group started coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.25.

Equity Residential Stock Up 0.2 %

Shares of Equity Residential stock opened at $73.45 on Tuesday. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50-day moving average of $73.94 and a 200 day moving average of $72.07. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 5.90 and a beta of 0.92.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a $0.675 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.68%. Equity Residential’s dividend payout ratio 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.