BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Equity Residential (NYSE:EQR – Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,929 shares of the real estate investment trust’s stock after selling 8,415 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Equity Residential were worth $4,239,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Maryland Capital Advisors Inc. acquired a new position in Equity Residential during the third quarter worth about $25,000. Brooklyn Investment Group bought a new stake in shares of Equity Residential during the 3rd quarter valued at approximately $33,000. Assetmark Inc. increased its position in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. boosted its position 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 buying an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Equity Residential by 41.9% during 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 during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently issued reports on EQR. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Scotiabank lowered their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Truist Financial lifted their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $77.25.
Equity Residential Trading Down 1.6 %
NYSE EQR opened at $74.02 on Wednesday. The stock has a market capitalization of $28.09 billion, a P/E ratio of 30.34, a P/E/G ratio of 6.10 and a beta of 0.92. The business has a 50 day simple moving average of $74.03 and a 200 day simple moving average of $71.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a one year low of $57.33 and a one year high of $78.83.
Equity Residential Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.65%. Equity Residential’s dividend payout ratio is currently 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.
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