NFJ Investment Group LLC Sells 17,421 Shares of Equity Residential (NYSE:EQR)

NFJ Investment Group LLC trimmed its stake in Equity Residential (NYSE:EQR - Free Report) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,557 shares of the real estate investment trust's stock after selling 17,421 shares during the period. NFJ Investment Group LLC's holdings in Equity Residential were worth $7,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential during the 3rd quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Equity Residential during the 3rd quarter worth about $33,000. Assetmark Inc. grew its holdings in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 430 shares during the period. UMB Bank n.a. grew its holdings in Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 155 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised 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. JPMorgan Chase & Co. raised their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Royal Bank of Canada dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. BNP Paribas started coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 target price on the stock. Finally, Scotiabank dropped 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 report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Equity Residential presently has an average rating of "Hold" and an average price target of $77.25.

Equity Residential Trading Down 0.5 %

Equity Residential stock traded down $0.40 during mid-day trading on Wednesday, hitting $73.63. The company's stock had a trading volume of 562,785 shares, compared to its average volume of 1,826,734. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 6.10 and a beta of 0.92. The business has a 50 day moving average price of $74.03 and a 200-day moving average price of $71.56. Equity Residential has a 12 month low of $57.33 and a 12 month high of $78.83.

Equity Residential Announces Dividend

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

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.