Centiva Capital LP Buys Shares of 156,236 Equity Residential (NYSE:EQR)

Centiva Capital LP bought a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 156,236 shares of the real estate investment trust’s stock, valued at approximately $11,633,000. Equity Residential accounts for about 0.2% of Centiva Capital LP’s portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential during the 3rd quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the third quarter worth about $33,000. Assetmark Inc. lifted its holdings in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. UMB Bank n.a. boosted its position 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 acquiring an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings 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 worth $36,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQR. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. BNP Paribas initiated coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Price Performance

EQR opened at $76.51 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $71.45. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 6.22 and a beta of 0.90. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

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.