Equity Residential (NYSE:EQR) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Equity Residential (NYSE:EQR - Free Report) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its position in Equity Residential by 27.8% during the third quarter. Edgestream Partners L.P. now owns 35,781 shares of the real estate investment trust's stock worth $2,664,000 after acquiring an additional 7,793 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Equity Residential during the third quarter worth approximately $4,965,000. Eventide Asset Management LLC acquired a new position in shares of Equity Residential in the 3rd quarter valued at $19,813,000. HGI Capital Management LLC grew its stake in shares of Equity Residential by 51.4% during the 3rd quarter. HGI Capital Management LLC now owns 108,886 shares of the real estate investment trust's stock valued at $8,108,000 after buying an additional 36,959 shares during the period. Finally, Vinva Investment Management Ltd grew its stake in shares of Equity Residential by 289.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 54,175 shares of the real estate investment trust's stock valued at $4,007,000 after buying an additional 40,253 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

Analysts Set New Price Targets

EQR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a "hold" rating to a "buy" rating and boosted their price objective for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Truist Financial boosted their price objective 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. Evercore ISI boosted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Royal Bank of Canada lowered their price objective on shares of 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, Stifel Nicolaus raised 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 research report on Wednesday, November 13th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $77.25.

Equity Residential Stock Down 0.3 %

Shares of Equity Residential stock traded down $0.22 during trading on Wednesday, reaching $73.81. The company had a trading volume of 1,303,162 shares, compared to its average volume of 1,829,994. The company has a market cap of $28.01 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 6.10 and a beta of 0.92. The firm's fifty day moving average is $74.01 and its 200-day moving average is $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 fifty-two week low of $57.33 and a fifty-two week high of $78.83.

Equity Residential Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.66%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

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.