Equity Residential (NYSE:EQR) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its holdings in Equity Residential (NYSE:EQR) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 169,906 shares of the real estate investment trust’s stock after buying an additional 795 shares during the period. Toronto Dominion Bank’s holdings in Equity Residential were worth $12,651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Coldstream Capital Management Inc. lifted its position in Equity Residential by 1,737.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 61,538 shares of the real estate investment trust’s stock worth $4,582,000 after acquiring an additional 58,188 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Equity Residential by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock worth $694,441,000 after purchasing an additional 132,638 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in shares of Equity Residential by 73,283.3% during the third quarter. Prestige Wealth Management Group LLC now owns 4,403 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 4,397 shares during the period. Vestcor Inc grew its position in Equity Residential by 68.8% in the 3rd quarter. Vestcor Inc now owns 112,818 shares of the real estate investment trust’s stock valued at $8,400,000 after buying an additional 46,002 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new position in Equity Residential in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR opened at $73.28 on Friday. The company has a 50-day moving average of $73.93 and a two-hundred day moving average of $71.89. The stock has a market cap of $27.80 billion, a P/E ratio of 30.03, a PEG ratio of 5.90 and a beta of 0.92. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, January 2nd. Equity Residential’s payout ratio is currently 110.66%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BNP Paribas began coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price for the company. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. 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. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential presently 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.