Napa Wealth Management Purchases 793 Shares of Equity Residential (NYSE:EQR)

Napa Wealth Management grew its position in shares of Equity Residential (NYSE:EQR) by 24.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,995 shares of the real estate investment trust’s stock after buying an additional 793 shares during the quarter. Napa Wealth Management’s holdings in Equity Residential were worth $297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tobam raised its stake 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 acquiring an additional 152 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Equity Residential by 4.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Equity Residential by 41.9% in 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. UMB Bank n.a. raised 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 buying an additional 195 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Equity Residential by 32.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 200 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Up 0.7 %

EQR opened at $73.59 on Monday. The firm’s 50 day simple moving average is $74.32 and its two-hundred day simple moving average is $70.80. The company has a market capitalization of $27.92 billion, a PE ratio of 30.16, a PEG ratio of 5.98 and a beta of 0.90. Equity Residential has a 1-year low of $54.53 and a 1-year 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 Announces Dividend

The business also recently announced 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 yield of 3.67%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased 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. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Truist Financial raised their target price on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Evercore ISI raised their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus target price 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.