AE Wealth Management LLC Invests $691,000 in Equity Residential $EQR

AE Wealth Management LLC bought a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,681 shares of the real estate investment trust’s stock, valued at approximately $691,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Equity Residential by 10.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,145 shares of the real estate investment trust’s stock worth $3,828,000 after acquiring an additional 5,560 shares during the period. Phoenix Financial Ltd. increased its stake in shares of Equity Residential by 42.9% during the third quarter. Phoenix Financial Ltd. now owns 4,300 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 1,291 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Equity Residential by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 268,767 shares of the real estate investment trust’s stock worth $17,397,000 after purchasing an additional 758 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Equity Residential by 566.7% in the 3rd quarter. Baillie Gifford & Co. now owns 115,181 shares of the real estate investment trust’s stock valued at $7,456,000 after buying an additional 97,906 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Equity Residential by 8.8% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 209,614 shares of the real estate investment trust’s stock worth $13,471,000 after buying an additional 17,014 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Up 2.0%

Shares of NYSE:EQR opened at $63.02 on Thursday. Equity Residential has a 52-week low of $58.38 and a 52-week high of $75.86. The stock has a market cap of $23.98 billion, a P/E ratio of 20.80, a PEG ratio of 4.20 and a beta of 0.76. The business has a fifty day moving average of $61.72 and a two-hundred day moving average of $62.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.75.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is presently 91.42%.

Analyst Ratings Changes

EQR has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Equity Residential from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. JPMorgan Chase & Co. reduced their price objective on Equity Residential from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. Evercore ISI lowered their target price on shares of Equity Residential from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Barclays reaffirmed an “overweight” rating and set a $78.00 target price on shares of Equity Residential in a report on Tuesday, January 13th. Finally, Stifel Nicolaus set a $79.75 price target on shares of Equity Residential in a research note on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $70.01.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.