Equity Residential (NYSE:EQR) Holdings Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in Equity Residential (NYSE:EQR) by 46.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,496 shares of the real estate investment trust’s stock after selling 46,759 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equity Residential were worth $4,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tobam lifted its position in shares of Equity Residential by 8.6% during the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 152 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 153 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the period. UMB Bank n.a. increased its stake 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 worth $35,000 after purchasing an additional 195 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 200 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Scotiabank decreased their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group began coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Performance

Shares of EQR opened at $75.79 on Monday. The company has a market capitalization of $28.76 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 6.09 and a beta of 0.90. 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 has a one year low of $56.05 and a one year high of $78.83. The company’s fifty day moving average price is $74.12 and its 200 day moving average price is $71.10.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. Equity Residential’s dividend payout ratio is presently 110.66%.

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.