Heitman Real Estate Securities LLC Increases Stake in Equity Residential (NYSE:EQR)

Heitman Real Estate Securities LLC grew its holdings in Equity Residential (NYSE:EQR) by 2,193.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 416,647 shares of the real estate investment trust’s stock after acquiring an additional 398,478 shares during the period. Equity Residential comprises 1.7% of Heitman Real Estate Securities LLC’s holdings, making the stock its 26th biggest position. Heitman Real Estate Securities LLC owned about 0.11% of Equity Residential worth $31,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Maryland Capital Advisors Inc. purchased a new position in Equity Residential during the 3rd quarter worth $25,000. Assetmark Inc. lifted its holdings in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 430 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Equity Residential in the 3rd quarter worth approximately $33,000. UMB Bank n.a. lifted its position in Equity Residential by 69.6% during the 3rd 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, Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% during 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 in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Down 1.9 %

Shares of Equity Residential stock opened at $75.24 on Tuesday. Equity Residential has a twelve month low of $57.33 and a twelve 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 has a 50-day moving average price of $74.10 and a 200-day moving average price of $71.45. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 6.22 and a beta of 0.92.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid 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 currently 110.66%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQR. Evercore ISI increased their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Wedbush raised their price target on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.25.

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.