Equity Residential (NYSE:EQR) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in Equity Residential (NYSE:EQR) by 45.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,865 shares of the real estate investment trust’s stock after buying an additional 175,268 shares during the quarter. BNP Paribas Financial Markets’ holdings in Equity Residential were worth $42,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EQR. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential in the 3rd quarter valued at $25,000. Assetmark Inc. grew its position in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares during the last quarter. Brooklyn Investment Group acquired a new position in Equity Residential in the third quarter valued at $33,000. UMB Bank n.a. raised its holdings in shares of Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Performance

EQR opened at $77.48 on Friday. Equity Residential has a 1-year low of $56.05 and a 1-year high of $78.83. The stock has a market cap of $29.40 billion, a P/E ratio of 31.75, a P/E/G ratio of 6.20 and a beta of 0.90. The stock’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 Announces Dividend

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. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EQR shares. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wedbush upped their price target on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Evercore ISI lifted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. BNP Paribas assumed coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus target price of $77.25.

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.