Bank of Nova Scotia reduced its holdings in Equity Residential (NYSE:EQR) by 18.3% during the first quarter, now owning 38,725 shares worth approximately $2.77 million. The fund sold 8,662 shares during the period. Various hedge funds have also altered their positions: Sequoia Financial Advisors increased its stake by 6.3%, TCW Group Inc. by 40.4%, Versant Capital Management Inc. by 51.6%, MassMutual Private Wealth & Trust FSB by 27.6%, Continuum Advisory LLC by 38.8%, and Parvin Asset Management LLC bought a new stake during the fourth quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.\n\nEquity Residential declared a quarterly dividend of $0.6925 per share, resulting in an annualized dividend yield of 4.4%. The dividend payout ratio currently stands at 105.73%, with a 104.53% payout ratio as of the most recent disclosure.\n\nThe company reported $0.99 earnings per share for the quarter, meeting analyst estimates of $0.99. Revenue was $768.83 million, slightly below the $770.60 million estimate. The business had a return on equity of 9.05% and a net margin of 33.22%. Revenue increased 4.7% year-over-year. Analysts forecast 3.98 earnings per share for the current fiscal year.\n\nEquity Residential's stock traded down $0.70 to $63.19 during midday trading on Friday, with a trading volume of 1,337,577 shares compared to its average volume of 2,193,361. The 50-day simple moving average is $67.13 and the 200-day simple moving average is $68.89. The company has a current ratio of 0.17, a quick ratio of 0.20, and a debt-to-equity ratio of 0.75. The stock has a market cap of $24.13 billion, a P/E ratio of 23.85, a P/E/G ratio of 3.25, and a beta of 0.92. The 1-year low is $59.41 and the 1-year high is $78.83.\n\nEquity Residential is committed to creating communities where people thrive. It is a member of the S&P 500 and focuses on the acquisition, development, and management of residential properties in dynamic cities such as Boston, New York, Washington, DC, Seattle, San Francisco, Southern California, Denver, Atlanta, and Dallas/Ft. The company owns or has investments in 305 properties consisting of 80,683 apartment units.\n\nSeveral research analysts have issued reports on Equity Residential: Stifel Nicolaus set a $80.50 price target and gave a 'buy' rating; UBS Group lowered their price objective to $76.00 and maintained a 'buy' rating; Evercore ISI upgraded the rating to 'outperform' and increased the target price to $75.00; Barclays raised their price target to $83.00 and gave an 'overweight' rating. One analyst has a 'sell' rating, seven have a 'hold' rating, and eight have a 'buy' rating. The average rating is 'Hold' with an average price target of $78.43.

Equity Residential (NYSE:EQR) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its stake in Equity Residential by 18.3%, now holding 38,725 shares valued at $2.77 million. Other hedge funds such as Sequoia Financial Advisors, TCW Group Inc., Versant Capital Management Inc., MassMutual Private Wealth & Trust FSB, Continuum Advisory LLC, and Parvin Asset Management LLC adjusted their positions, with some increasing holdings significantly. Equity Residential declared a quarterly dividend of $0.6925 per share, resulting in a 4.4% annualized yield and a payout ratio of 105.73%. The company reported earnings per share of $0.99, slightly below revenue estimates, with a 4.7% year-over-year revenue increase, a 9.05% return on equity, and a 33.22% net margin. The stock traded down to $63.19 on Friday, with a market cap of $24.13 billion. The company owns 305 properties across major U.S. cities and is a member of the S&P 500. Analysts have issued varied price targets and ratings, with an average rating of 'Hold' and an average price target of $78.43.