Seven Post Investment Office LP Buys 2,202 Shares of Equity Residential (NYSE:EQR)

Seven Post Investment Office LP grew its stake in Equity Residential (NYSE:EQR) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 314,063 shares of the real estate investment trust’s stock after purchasing an additional 2,202 shares during the period. Equity Residential comprises 8.6% of Seven Post Investment Office LP’s investment portfolio, making the stock its 3rd biggest position. Seven Post Investment Office LP’s holdings in Equity Residential were worth $22,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EQR. Maryland Capital Advisors Inc. acquired a new position in Equity Residential in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential during the 3rd quarter valued at approximately $29,000. Assetmark Inc. lifted its stake in shares of Equity Residential by 2,529.4% in 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 during the period. Brooklyn Investment Group purchased a new stake in Equity Residential during the third quarter worth $33,000. Finally, UMB Bank n.a. grew 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 buying an additional 195 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $69.78 on Tuesday. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $26.48 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 5.48 and a beta of 0.93. The business has a 50 day simple moving average of $72.46 and a 200-day simple moving average of $72.61.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on EQR shares. Barclays began coverage on shares of Equity Residential in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $83.00 price objective for the company. Royal Bank of Canada reduced their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and raised their price objective for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Mizuho reduced their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Scotiabank dropped their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Equity Residential presently has a consensus rating of “Hold” and an average price target of $78.69.

Equity Residential Company 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.