Synovus Financial Corp raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 104.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,195 shares of the real estate investment trust's stock after acquiring an additional 8,789 shares during the quarter. Synovus Financial Corp's holdings in Equity Residential were worth $1,280,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Tobam grew its stake in shares of Equity Residential by 8.6% in 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 increased 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 worth $244,000 after acquiring an additional 153 shares during the period. UMB Bank n.a. raised its holdings in 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 worth $35,000 after purchasing an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in 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 valued at $56,000 after purchasing an additional 200 shares during the period. Finally, Modera Wealth Management LLC increased its position in Equity Residential by 6.5% during the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust's stock worth $244,000 after purchasing an additional 200 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.
Shares of EQR stock opened at $73.45 on Tuesday. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83. The company has a market cap of $27.87 billion, a PE ratio of 30.10, a P/E/G ratio of 5.90 and a beta of 0.92. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The company's fifty day simple moving average is $73.94 and its 200-day simple moving average is $72.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.675 per share. 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 payout ratio is currently 110.66%.
A number of equities analysts have recently weighed in on EQR shares. Wells Fargo & Company downgraded Equity Residential from an "overweight" rating to an "equal weight" rating and raised their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. BNP Paribas initiated coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price objective on the stock. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. Evercore ISI raised their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, StockNews.com lowered Equity Residential from a "hold" rating to a "sell" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $77.25.
View Our Latest Stock Report on 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.
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