KBC Group NV Acquires 265,334 Shares of Equity Residential (NYSE:EQR)

KBC Group NV boosted its holdings in Equity Residential (NYSE:EQR - Free Report) by 337.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 343,976 shares of the real estate investment trust's stock after acquiring an additional 265,334 shares during the quarter. KBC Group NV owned about 0.09% of Equity Residential worth $25,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of Equity Residential by 32.8% during the 1st quarter. Empowered Funds LLC now owns 5,620 shares of the real estate investment trust's stock valued at $355,000 after acquiring an additional 1,389 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Equity Residential by 10.0% during the first quarter. Avantax Advisory Services Inc. now owns 8,643 shares of the real estate investment trust's stock valued at $545,000 after acquiring an additional 787 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Equity Residential in the 1st quarter valued at approximately $241,000. Acadian Asset Management LLC purchased a new position in Equity Residential during the 1st quarter worth approximately $220,000. Finally, Ontario Teachers Pension Plan Board grew its position in Equity Residential by 5.9% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 41,137 shares of the real estate investment trust's stock worth $2,596,000 after purchasing an additional 2,306 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on EQR. Stifel Nicolaus raised Equity Residential from a "hold" rating to a "buy" rating and raised their target price for the stock from $77.75 to $81.50 in a research report on Wednesday. Truist Financial lifted their target price on Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a "hold" rating to a "buy" rating and increased their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 target price for the company. Finally, Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and boosted their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.25.

Equity Residential Stock Performance

NYSE:EQR traded up $0.52 during midday trading on Friday, reaching $73.59. The stock had a trading volume of 1,486,706 shares, compared to its average volume of 1,850,420. The stock has a market capitalization of $27.92 billion, a P/E ratio of 30.16, a PEG ratio of 6.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 1-year low of $54.53 and a 1-year high of $78.83. The firm's fifty day simple moving average is $74.32 and its 200-day simple moving average is $70.71.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential's payout ratio is 110.66%.

About Equity Residential

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.