Metis Global Partners LLC Grows Stake in Equity Residential (NYSE:EQR)

Metis Global Partners LLC increased its stake in Equity Residential (NYSE:EQR - Free Report) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,167 shares of the real estate investment trust's stock after purchasing an additional 8,473 shares during the period. Metis Global Partners LLC's holdings in Equity Residential were worth $3,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Equity Residential by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust's stock valued at $1,279,095,000 after acquiring an additional 381,236 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock valued at $576,737,000 after buying an additional 591,866 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Equity Residential by 1.2% in the second quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust's stock valued at $346,794,000 after buying an additional 60,000 shares in the last quarter. Boston Partners increased its holdings in Equity Residential by 4.3% during the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust's stock worth $171,368,000 after buying an additional 112,270 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Equity Residential by 20.7% during the second quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust's stock worth $151,174,000 after acquiring an additional 373,229 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Stock Up 0.7 %

Shares of NYSE EQR traded up $0.52 during trading on Friday, hitting $73.59. 1,318,057 shares of the company traded hands, compared to its average volume of 1,850,420. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 6.07 and a beta of 0.90. The business's fifty day moving average is $74.34 and its 200 day moving average is $70.65. 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 $54.53 and a fifty-two week high of $78.83.

Equity Residential Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price objective on the stock. Scotiabank reduced their target price on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a research note on Thursday. UBS Group boosted their target price on Equity Residential from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. The Goldman Sachs Group began coverage on Equity Residential in a report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 price target for the company. Finally, Bank of America lowered shares of Equity Residential from a "buy" rating to a "neutral" rating and increased their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $77.25.

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.