Forsta AP Fonden Has $7 Million Stock Position in Equity Residential (NYSE:EQR)

Forsta AP Fonden raised its position in Equity Residential (NYSE:EQR - Free Report) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,000 shares of the real estate investment trust's stock after purchasing an additional 32,900 shares during the quarter. Forsta AP Fonden's holdings in Equity Residential were worth $6,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Equity Residential by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust's stock worth $1,279,095,000 after purchasing an additional 381,236 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 482.3% in the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock valued at $496,040,000 after acquiring an additional 5,925,177 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Equity Residential by 1.2% during 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 acquiring an additional 60,000 shares during the period. Boston Partners raised 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 purchasing an additional 112,270 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Equity Residential by 20.7% in 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 purchasing an additional 373,229 shares during the period. Institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EQR. Wedbush boosted their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Wells Fargo & Company downgraded shares of Equity Residential from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. BNP Paribas initiated coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price objective on the stock. Truist Financial boosted their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on shares of Equity Residential from $74.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $75.97.

Equity Residential Stock Down 1.0 %

NYSE EQR traded down $0.75 during trading on Tuesday, reaching $74.27. 1,167,368 shares of the company's stock were exchanged, compared to its average volume of 1,852,659. The firm has a market capitalization of $28.19 billion, a PE ratio of 30.80, a P/E/G ratio of 6.17 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The company's fifty day simple moving average is $74.75 and its 200-day simple moving average is $69.84.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The company had revenue of $734.20 million for the quarter, compared to analysts' expectations of $735.26 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.64%. Equity Residential's dividend payout ratio is 112.03%.

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.