Franklin Resources Inc. Grows Stock Position in Equity Residential (NYSE:EQR)

Franklin Resources Inc. boosted its position in Equity Residential (NYSE:EQR - Free Report) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,397 shares of the real estate investment trust's stock after purchasing an additional 8,088 shares during the period. Franklin Resources Inc.'s holdings in Equity Residential were worth $13,430,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EQR. Envestnet Portfolio Solutions Inc. grew its position in Equity Residential by 12.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,560 shares of the real estate investment trust's stock valued at $247,000 after buying an additional 388 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Equity Residential during the 2nd quarter valued at $214,000. Raymond James & Associates increased its stake in shares of Equity Residential by 2.6% in the 2nd quarter. Raymond James & Associates now owns 189,329 shares of the real estate investment trust's stock worth $13,128,000 after purchasing an additional 4,764 shares in the last quarter. Fifth Third Bancorp raised its holdings in Equity Residential by 7.9% in the 2nd quarter. Fifth Third Bancorp now owns 6,560 shares of the real estate investment trust's stock worth $455,000 after purchasing an additional 483 shares during the period. Finally, Family Firm Inc. purchased a new position in Equity Residential during the second quarter valued at $71,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Price Performance

EQR traded up $1.86 during trading hours on Friday, hitting $71.35. The company's stock had a trading volume of 4,765,354 shares, compared to its average volume of 1,816,814. Equity Residential has a 12 month low of $57.33 and a 12 month high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The business's 50-day moving average price is $73.80 and its 200-day moving average price is $72.18. The stock has a market cap of $27.07 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 5.90 and a beta of 0.92.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, January 2nd. Equity Residential's dividend payout ratio is 110.66%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EQR shares. JPMorgan Chase & Co. raised their price objective on Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Barclays initiated coverage on shares of Equity Residential in a research report on Tuesday. They issued an "overweight" rating and a $83.00 price target for the company. Scotiabank lowered their target price on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI upped their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $78.14.

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.