Haverford Trust Co Sells 7,136 Shares of Equity Residential (NYSE:EQR)

Haverford Trust Co decreased its position in Equity Residential (NYSE:EQR) by 62.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,326 shares of the real estate investment trust’s stock after selling 7,136 shares during the period. Haverford Trust Co’s holdings in Equity Residential were worth $322,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after acquiring an additional 381,236 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Equity Residential during the second quarter valued at approximately $3,893,000. Boston Partners boosted its holdings in Equity Residential by 4.3% in the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock worth $171,368,000 after purchasing an additional 112,270 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Equity Residential in the first quarter worth approximately $2,841,000. Finally, Canada Pension Plan Investment Board grew its position in Equity Residential by 1.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock worth $346,794,000 after purchasing an additional 60,000 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Trading Down 2.1 %

Shares of EQR stock opened at $73.07 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $27.72 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 5.94 and a beta of 0.90. Equity Residential has a 12-month low of $54.53 and a 12-month high of $78.83. The stock’s 50-day moving average price is $74.39 and its 200-day moving average price is $70.63.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EQR. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the stock from $77.75 to $81.50 in a research note on Wednesday. Scotiabank dropped their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday. UBS Group upped their price target on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. 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 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. Eleven 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, Equity Residential currently has a consensus rating of “Hold” and an average 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.