Transamerica Financial Advisors Inc. Trims Stock Position in Equity Residential (NYSE:EQR)

Transamerica Financial Advisors Inc. lowered its position in shares of Equity Residential (NYSE:EQR) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,676 shares of the real estate investment trust’s stock after selling 1,175 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Equity Residential were worth $274,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Tobam grew its stake in Equity Residential by 8.6% during the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 152 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in 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 valued at $36,000 after purchasing an additional 155 shares during the last quarter. UMB Bank n.a. lifted its position in Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 195 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.9 %

NYSE:EQR opened at $77.12 on Wednesday. The company has a fifty day moving average of $74.09 and a 200 day moving average of $71.24. Equity Residential has a 52 week low of $56.05 and a 52 week high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $29.26 billion, a P/E ratio of 31.61, a P/E/G ratio of 6.20 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 issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.50%. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Truist Financial lifted their target price on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Scotiabank dropped their target price on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Finally, Piper Sandler lifted their target price on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.