Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,827 Shares of Equity Residential (NYSE:EQR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Equity Residential (NYSE:EQR) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,131 shares of the real estate investment trust’s stock after buying an additional 2,827 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Equity Residential worth $16,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQR. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential in the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in Equity Residential during the 3rd quarter worth $33,000. Assetmark Inc. raised its position in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Price Performance

Shares of NYSE EQR opened at $76.66 on Friday. Equity Residential has a fifty-two week low of $56.40 and a fifty-two week high of $78.83. The company has a market cap of $29.09 billion, a PE ratio of 31.42, a P/E/G ratio of 6.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50-day simple moving average of $74.10 and a two-hundred day simple moving average of $71.42.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.52%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Analysts Set New Price Targets

Several brokerages have recently commented on EQR. Royal Bank of Canada cut their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. BNP Paribas started coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Evercore ISI lifted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Truist Financial boosted their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.