Franklin Resources Inc. Boosts Stake in Equity Residential (NYSE:EQR)

Franklin Resources Inc. grew its position in Equity Residential (NYSE:EQR - Free Report) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its holdings in 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 worth $346,794,000 after buying an additional 60,000 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Equity Residential during the third quarter worth $923,000. Quest Partners LLC lifted its position in Equity Residential by 244,571.4% during the second quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust's stock valued at $1,188,000 after purchasing an additional 17,120 shares during the period. Public Sector Pension Investment Board boosted its holdings in Equity Residential by 18.7% in the second quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust's stock valued at $3,328,000 after purchasing an additional 7,549 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Equity Residential by 1,279.0% during the 2nd quarter. Acadian Asset Management LLC now owns 48,210 shares of the real estate investment trust's stock worth $3,339,000 after purchasing an additional 44,714 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Price Performance

Shares of NYSE:EQR traded up $1.86 during trading on Friday, reaching $71.35. The stock had a trading volume of 4,765,354 shares, compared to its average volume of 1,816,814. 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 1-year low of $57.33 and a 1-year high of $78.83. The stock has a market cap of $27.07 billion, a PE ratio of 29.24, a PEG ratio of 5.90 and a beta of 0.92. The business has a fifty day moving average price of $73.80 and a 200-day moving average price of $72.13.

Equity Residential Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQR. 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 report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a "hold" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Evercore ISI lifted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 price target on the stock. Finally, Stifel Nicolaus raised shares of Equity Residential from a "hold" rating to a "buy" rating and lifted their price objective for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Equity Residential presently has a consensus rating of "Hold" and a consensus price target of $78.14.

Equity Residential 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.