Geode Capital Management LLC Grows Stock Position in Equity Residential (NYSE:EQR)

Geode Capital Management LLC grew its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,353,944 shares of the real estate investment trust's stock after buying an additional 132,638 shares during the period. Geode Capital Management LLC owned 2.47% of Equity Residential worth $694,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EQR. Principal Financial Group Inc. raised its holdings in Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock worth $496,040,000 after purchasing an additional 5,925,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equity Residential by 806.4% in the third 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 acquiring an additional 3,789,234 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Equity Residential by 1,459.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust's stock valued at $145,158,000 after acquiring an additional 1,824,494 shares in the last quarter. FMR LLC increased its position in shares of Equity Residential by 29.0% during the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock worth $576,804,000 after purchasing an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust's stock valued at $40,528,000 after purchasing an additional 518,424 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com lowered Equity Residential from a "hold" rating to a "sell" rating in a research report on Wednesday. Stifel Nicolaus upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and upped their price target for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wells Fargo & Company downgraded shares of Equity Residential from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Finally, Truist Financial raised their price target on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $77.25.

Equity Residential Price Performance

EQR stock traded up $1.01 during trading on Thursday, reaching $73.79. 1,479,121 shares of the company were exchanged, compared to its average volume of 1,815,051. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The stock's 50 day moving average price is $73.93 and its 200 day moving average price is $71.82. Equity Residential has a 52-week low of $57.33 and a 52-week high of $78.83. The company has a market cap of $28.00 billion, a P/E ratio of 29.83, a PEG ratio of 5.98 and a beta of 0.92.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.66%. Equity Residential's dividend payout ratio (DPR) is 110.66%.

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.