PNC Financial Services Group Inc. Has $4.49 Million Holdings in Equity Residential (NYSE:EQR)

PNC Financial Services Group Inc. grew its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,287 shares of the real estate investment trust's stock after acquiring an additional 7,315 shares during the period. PNC Financial Services Group Inc.'s holdings in Equity Residential were worth $4,489,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC acquired a new stake in Equity Residential in the 2nd quarter worth about $3,893,000. Boston Partners grew its position 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 in the last quarter. Cetera Investment Advisers bought a new position in Equity Residential during the 1st quarter worth $2,841,000. Canada Pension Plan Investment Board lifted its position in shares of Equity Residential by 1.2% during the 2nd 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. Finally, Quest Partners LLC grew its holdings in shares of Equity Residential by 244,571.4% during the 2nd quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust's stock worth $1,188,000 after purchasing an additional 17,120 shares in the last quarter. Institutional investors own 92.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EQR shares. Scotiabank dropped their price target on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a research note on Thursday, November 14th. Truist Financial upped their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Bank of America downgraded Equity Residential from a "buy" rating to a "neutral" rating and raised their target price for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a "hold" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.25.

Equity Residential Trading Up 0.8 %

Shares of Equity Residential stock traded up $0.62 during trading on Monday, hitting $76.41. The company's stock had a trading volume of 2,317,016 shares, compared to its average volume of 1,841,932. The stock has a market cap of $28.99 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 6.15 and a beta of 0.90. Equity Residential has a 52 week low of $56.05 and a 52 week high of $78.83. The stock has a 50-day moving average price of $74.09 and a two-hundred day moving average price of $71.17. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.53%. Equity Residential's dividend payout ratio is currently 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.