Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Equity Residential (NYSE:EQR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equity Residential (NYSE:EQR) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 220,131 shares of the real estate investment trust’s stock after purchasing an additional 2,827 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity Residential were worth $16,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland Capital Advisors Inc. acquired a new position in Equity Residential in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the 3rd quarter valued at $33,000. Assetmark Inc. boosted its holdings in shares of 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 last quarter. UMB Bank n.a. increased its stake 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 worth $35,000 after acquiring an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings 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 purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Trading Down 1.1 %

EQR stock opened at $76.66 on Friday. Equity Residential has a 12-month low of $56.40 and a 12-month high of $78.83. The business’s 50-day moving average is $74.10 and its 200 day moving average is $71.42. 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 stock has a market cap of $29.09 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 6.28 and a beta of 0.90.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

Wall Street Analyst Weigh In

EQR has been the topic of several recent research reports. BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Royal Bank of Canada lowered their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group began coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. Scotiabank lowered their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, Wedbush lifted their target price 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. Eleven research 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 an average rating of “Hold” and a consensus price target 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.