Equity Residential (NYSE:EQR) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Equity Residential (NYSE:EQR) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,817 shares of the real estate investment trust’s stock after purchasing an additional 3,437 shares during the quarter. CIBC Asset Management Inc’s holdings in Equity Residential were worth $3,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Maryland Capital Advisors Inc. acquired a new position in Equity Residential in the third quarter valued at approximately $25,000. Assetmark Inc. boosted its position in 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 buying an additional 430 shares during the period. UMB Bank n.a. boosted its holdings in Equity Residential by 69.6% in 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 period. Massmutual Trust Co. FSB ADV grew its position in shares of 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 worth $36,000 after buying an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EQR shares. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Scotiabank dropped their price objective 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. Royal Bank of Canada cut their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Up 1.1 %

Shares of NYSE:EQR opened at $74.42 on Tuesday. Equity Residential has a 12-month low of $54.70 and a 12-month high of $78.83. The stock’s 50-day moving average price is $74.31 and its two-hundred day moving average price is $70.86. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 5.98 and a beta of 0.90. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s payout ratio is currently 110.66%.

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.