Peapack Gladstone Financial Corp Sells 435 Shares of Equity Residential (NYSE:EQR)

Peapack Gladstone Financial Corp reduced its position in shares of Equity Residential (NYSE:EQR) by 8.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,792 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equity Residential were worth $356,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Tobam grew its holdings in shares of Equity Residential by 8.6% during the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 152 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 153 shares during the last quarter. UMB Bank n.a. lifted its position in 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 valued at $35,000 after acquiring an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Equity Residential by 32.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of Equity Residential by 6.5% in the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 200 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Trading Up 0.2 %

Shares of NYSE:EQR opened at $73.45 on Tuesday. The stock has a 50 day moving average of $73.94 and a 200 day moving average of $72.07. The company has a market cap of $27.87 billion, a PE ratio of 30.10, a price-to-earnings-growth 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.68%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQR shares. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their target price for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Royal Bank of Canada reduced their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Scotiabank lowered 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 report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.25.

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.