Ascent Group LLC Sells 11,013 Shares of Equity Residential (NYSE:EQR)

Ascent Group LLC cut its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,816 shares of the real estate investment trust's stock after selling 11,013 shares during the period. Ascent Group LLC's holdings in Equity Residential were worth $1,327,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EQR. FMR LLC increased its stake in Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock worth $576,804,000 after acquiring an additional 1,741,840 shares during the period. Principal Financial Group Inc. increased its stake in shares of Equity Residential by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock valued at $576,737,000 after purchasing an additional 591,866 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of 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 valued at $346,794,000 after purchasing an additional 60,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Equity Residential by 806.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock valued at $317,136,000 after purchasing an additional 3,789,234 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Equity Residential by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust's stock valued at $298,461,000 after purchasing an additional 124,795 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

NYSE:EQR traded down $0.22 during mid-day trading on Wednesday, reaching $73.81. The stock had a trading volume of 1,303,162 shares, compared to its average volume of 1,829,994. The stock has a market capitalization of $28.01 billion, a P/E ratio of 30.25, a P/E/G ratio of 6.10 and a beta of 0.92. The firm has a 50 day moving average price of $74.01 and a two-hundred day moving average price of $71.57. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current 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 declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.66%. The ex-dividend date was Tuesday, September 24th. Equity Residential's dividend payout ratio (DPR) is currently 110.66%.

Analyst Ratings Changes

EQR has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on Equity Residential in a report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 price objective on the stock. Truist Financial lifted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Evercore ISI boosted their price objective on Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered Equity Residential from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $77.25.

Equity Residential Company Profile

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.