Equity Residential (NYSE:EQR) Shares Bought by HGI Capital Management LLC

HGI Capital Management LLC lifted its holdings in shares of Equity Residential (NYSE:EQR) by 51.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,886 shares of the real estate investment trust’s stock after buying an additional 36,959 shares during the period. Equity Residential comprises 7.1% of HGI Capital Management LLC’s holdings, making the stock its 2nd largest position. HGI Capital Management LLC’s holdings in Equity Residential were worth $8,108,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential in the 3rd quarter valued at about $25,000. Brooklyn Investment Group acquired a new stake in Equity Residential in the 3rd quarter valued at about $33,000. Assetmark Inc. raised 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 period. UMB Bank n.a. raised its holdings 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. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Equity Residential by 41.9% in 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. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Stock Performance

Shares of NYSE:EQR opened at $77.48 on Friday. The company’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $71.33. The stock has a market capitalization of $29.40 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 6.28 and a beta of 0.90. 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 1 year low of $56.05 and a 1 year high of $78.83.

Equity Residential Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.48%. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. Finally, Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.