Eventide Asset Management LLC Takes $19.81 Million Position in Equity Residential (NYSE:EQR)

Eventide Asset Management LLC purchased a new stake in shares of Equity Residential (NYSE:EQR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 266,088 shares of the real estate investment trust’s stock, valued at approximately $19,813,000. Eventide Asset Management LLC owned 0.07% of Equity Residential as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential during the third quarter valued at $25,000. Brooklyn Investment Group bought a new position in Equity Residential during the third quarter valued at approximately $33,000. Assetmark Inc. lifted its stake in shares of 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 purchasing an additional 430 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Equity Residential by 69.6% in the 3rd 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. Finally, Massmutual Trust Co. FSB ADV boosted 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 acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Up 0.5 %

NYSE:EQR opened at $77.48 on Friday. The firm’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $71.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a one year low of $56.05 and a one year high of $78.83. The company has a market cap of $29.40 billion, a PE ratio of 31.75, a P/E/G ratio of 6.28 and a beta of 0.90.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given 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 dividend yield of 3.48%. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Analyst Ratings Changes

EQR has been the topic of several research analyst reports. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, Scotiabank lowered their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus price target 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.