M&T Bank Corp Sells 843 Shares of Equity Residential (NYSE:EQR)

M&T Bank Corp lowered its position in Equity Residential (NYSE:EQR) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,994 shares of the real estate investment trust’s stock after selling 843 shares during the quarter. M&T Bank Corp’s holdings in Equity Residential were worth $3,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Maryland Capital Advisors Inc. purchased a new position in Equity Residential during the third quarter worth about $25,000. Assetmark Inc. grew its holdings in shares of Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Equity Residential during the third quarter worth about $33,000. UMB Bank n.a. increased 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 worth $35,000 after purchasing an additional 195 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EQR. Royal Bank of Canada decreased 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. Evercore ISI upped their price objective on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price for the company. Finally, Scotiabank decreased their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Down 0.7 %

NYSE EQR opened at $73.28 on Friday. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83. The stock has a market capitalization of $27.80 billion, a PE ratio of 30.03, a PEG ratio of 5.90 and a beta of 0.92. 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 business’s 50-day moving average is $73.93 and its 200 day moving average is $71.89.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.68%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

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.