Paloma Partners Management Co Has $459,000 Stake in Equity Residential (NYSE:EQR)

Paloma Partners Management Co trimmed its position in Equity Residential (NYSE:EQR) by 46.9% during the third quarter, Holdings Channel reports. The institutional investor owned 6,158 shares of the real estate investment trust’s stock after selling 5,436 shares during the quarter. Paloma Partners Management Co’s holdings in Equity Residential were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Equity Residential in the 3rd quarter valued at $609,000. Erste Asset Management GmbH bought a new position in Equity Residential in the 3rd quarter valued at $2,219,000. Edgestream Partners L.P. boosted its position in Equity Residential by 27.8% in the 3rd quarter. Edgestream Partners L.P. now owns 35,781 shares of the real estate investment trust’s stock valued at $2,664,000 after buying an additional 7,793 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Equity Residential in the 3rd quarter valued at $4,965,000. Finally, Eventide Asset Management LLC bought a new position in Equity Residential in the 3rd quarter valued at $19,813,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Performance

EQR opened at $73.81 on Thursday. The business’s 50-day moving average price is $74.01 and its two-hundred day moving average price is $71.57. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 6.10 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.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is 110.66%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EQR. Scotiabank reduced their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Evercore ISI raised their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. BNP Paribas began coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Royal Bank of Canada reduced their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Equity Residential has an average 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.