AdvisorNet Financial Inc Boosts Stock Position in Equity Residential (NYSE:EQR)

AdvisorNet Financial Inc raised its stake in Equity Residential (NYSE:EQR) by 25.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 722 shares of the real estate investment trust’s stock after purchasing an additional 146 shares during the period. AdvisorNet Financial Inc’s holdings in Equity Residential were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in Equity Residential in the third quarter valued at about $923,000. Public Sector Pension Investment Board grew its stake in Equity Residential by 18.7% in the second quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock valued at $3,328,000 after purchasing an additional 7,549 shares during the last quarter. Tidal Investments LLC grew its stake in Equity Residential by 12.3% in the third quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock valued at $9,625,000 after purchasing an additional 14,109 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Equity Residential by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock valued at $298,461,000 after purchasing an additional 124,795 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in Equity Residential by 466.8% in the third quarter. Landscape Capital Management L.L.C. now owns 18,574 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 15,297 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Down 0.7 %

Shares of EQR opened at $69.78 on Friday. 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 has a one year low of $57.33 and a one year high of $78.83. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 5.25 and a beta of 0.93. The stock has a 50 day moving average price of $72.46 and a 200 day moving average price of $72.55.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s payout ratio is 110.66%.

Analyst Upgrades and Downgrades

EQR has been the topic of several analyst reports. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Royal Bank of Canada lowered their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Mizuho lowered their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Scotiabank lowered their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and an average target price of $78.69.

Equity Residential Company 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.