BNP Paribas Financial Markets Grows Position in Equity Residential (NYSE:EQR)

BNP Paribas Financial Markets boosted its stake in Equity Residential (NYSE:EQR) by 45.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 564,865 shares of the real estate investment trust’s stock after buying an additional 175,268 shares during the period. BNP Paribas Financial Markets owned approximately 0.15% of Equity Residential worth $42,060,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Tobam raised its stake in shares of Equity Residential by 8.6% in the 3rd 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 during the period. Checchi Capital Advisers LLC increased its holdings in Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 153 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Equity Residential by 41.9% in 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 period. UMB Bank n.a. lifted its stake 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 worth $35,000 after purchasing an additional 195 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 worth $56,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of NYSE EQR opened at $77.48 on Friday. The stock’s 50-day simple moving average is $74.10 and its 200-day simple moving average is $71.33. The firm has a market capitalization of $29.40 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 6.20 and a beta of 0.90. Equity Residential has a fifty-two week low of $56.05 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.48%. Equity Residential’s payout ratio is currently 110.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BNP Paribas initiated coverage on Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Royal Bank of Canada cut their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.25.

Equity Residential 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.