Equity Residential (NYSE:EQR) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in Equity Residential (NYSE:EQR) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,746,494 shares of the real estate investment trust’s stock after purchasing an additional 1,741,840 shares during the quarter. Fmr LLC owned about 2.04% of Equity Residential worth $576,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in EQR. Principal Financial Group Inc. raised its stake in Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Equity Residential by 1,459.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after purchasing an additional 1,824,494 shares during the last quarter. National Bank of Canada FI grew its holdings in Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after buying an additional 518,424 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Equity Residential by 39.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock valued at $116,245,000 after buying an additional 475,124 shares during the period. Finally, American Century Companies Inc. grew its holdings in Equity Residential by 20.7% in the 2nd quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock valued at $151,174,000 after buying an additional 373,229 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EQR. Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. Truist Financial lifted their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush lifted their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Royal Bank of Canada lowered their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.25.

Equity Residential Stock Performance

Shares of EQR opened at $77.48 on Friday. The business’s 50 day moving average is $74.10 and its two-hundred day moving average is $71.33. Equity Residential has a 52-week low of $56.05 and a 52-week high of $78.83. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 6.20 and a beta of 0.90. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

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.