Ontario Teachers Pension Plan Board Cuts Position in Equity Residential (NYSE:EQR)

Ontario Teachers Pension Plan Board lowered its holdings in Equity Residential (NYSE:EQR - Free Report) by 54.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,637 shares of the real estate investment trust's stock after selling 29,395 shares during the period. Ontario Teachers Pension Plan Board's holdings in Equity Residential were worth $1,834,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Equity Residential by 1.9% during 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 buying an additional 381,236 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Equity Residential in the 2nd quarter worth approximately $3,893,000. Boston Partners lifted its stake in Equity Residential by 4.3% in the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust's stock valued at $171,368,000 after purchasing an additional 112,270 shares during the last quarter. Cetera Investment Advisers purchased a new position in Equity Residential in the first quarter valued at approximately $2,841,000. Finally, Canada Pension Plan Investment Board increased its position in 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 worth $346,794,000 after buying an additional 60,000 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Equity Residential Price Performance

Shares of EQR traded down $0.58 during midday trading on Wednesday, hitting $73.92. 1,359,326 shares of the company traded hands, compared to its average volume of 1,845,859. Equity Residential has a 52 week low of $55.78 and a 52 week high of $78.83. 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 firm has a 50 day moving average of $74.26 and a 200-day moving average of $70.92. The stock has a market cap of $28.05 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 5.98 and a beta of 0.90.

Equity Residential Dividend Announcement

The business 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. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. Equity Residential's dividend payout ratio is presently 110.66%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EQR shares. Truist Financial increased their price target on Equity Residential from $73.00 to $77.00 and gave the stock 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 boosted their price target for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. 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 report on Monday, August 26th. Piper Sandler boosted their target price on shares of Equity Residential from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.