Equity Residential (NYSE:EQR) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Equity Residential (NYSE:EQR) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,060 shares of the real estate investment trust’s stock after acquiring an additional 855 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Equity Residential were worth $1,270,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in Equity Residential in the 1st quarter worth about $27,000. UMB Bank n.a. increased its position in 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 acquiring an additional 195 shares during the period. Massmutual Trust Co. FSB ADV raised its stake 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 in the last quarter. HHM Wealth Advisors LLC boosted its position in Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 327 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of Equity Residential in the first quarter worth $41,000. Institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Down 4.8 %

Shares of EQR opened at $70.41 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 6.17 and a beta of 0.89. The business’s fifty day moving average is $74.78 and its 200-day moving average is $69.96.

Equity Residential (NYSE:EQR) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. Equity Residential’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. Equities analysts anticipate that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.83%. Equity Residential’s dividend payout ratio is 110.66%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Wedbush increased their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. The Goldman Sachs Group began coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. BNP Paribas initiated coverage on Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target for the company. Finally, Evercore ISI raised 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. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $75.97.

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.