Centiva Capital LP Invests $11.63 Million in Equity Residential (NYSE:EQR)

Centiva Capital LP purchased a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 156,236 shares of the real estate investment trust’s stock, valued at approximately $11,633,000. Equity Residential accounts for 0.2% of Centiva Capital LP’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds also recently bought and sold shares of EQR. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in shares of Equity Residential during the third quarter valued at approximately $33,000. Assetmark Inc. lifted its stake in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares during the period. UMB Bank n.a. boosted its holdings 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 valued at $35,000 after acquiring an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Equity Residential by 41.9% during 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. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Down 0.2 %

Shares of Equity Residential stock opened at $76.51 on Monday. The company has a 50-day simple moving average of $74.10 and a two-hundred day simple moving average of $71.45. Equity Residential has a 52-week low of $57.33 and a 52-week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $29.03 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 6.22 and a beta of 0.90.

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 $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.53%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EQR shares. Truist Financial lifted 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. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their price objective for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. BNP Paribas initiated coverage on Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 target price on the stock. Royal Bank of Canada lowered their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Scotiabank reduced their price target on 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. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock 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.