Citigroup Inc. Has $21.28 Million Stock Position in Equity Residential (NYSE:EQR)

Citigroup Inc. reduced its position in shares of Equity Residential (NYSE:EQR) by 29.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 285,851 shares of the real estate investment trust’s stock after selling 118,901 shares during the period. Citigroup Inc. owned about 0.08% of Equity Residential worth $21,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential in the third quarter valued at approximately $25,000. Assetmark Inc. raised 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 purchasing an additional 430 shares during the last quarter. UMB Bank n.a. boosted its stake 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 worth $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

EQR opened at $77.12 on Wednesday. The stock has a market cap of $29.26 billion, a P/E ratio of 31.61, a P/E/G ratio of 6.15 and a beta of 0.90. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $74.09 and a 200 day simple moving average of $71.24.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQR. BNP Paribas initiated coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. Scotiabank decreased 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. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wedbush increased their price objective on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada dropped their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.