Point72 Asia Singapore Pte. Ltd. Sells 10,069 Shares of Equity Residential (NYSE:EQR)

Point72 Asia Singapore Pte. Ltd. cut its stake in Equity Residential (NYSE:EQR - Free Report) by 56.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,757 shares of the real estate investment trust's stock after selling 10,069 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Equity Residential were worth $578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQR. 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 in the third quarter valued at approximately $33,000. Assetmark Inc. boosted its holdings in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. increased its position in Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after buying an additional 195 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 155 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI raised their price objective on Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Wells Fargo & Company lowered shares of Equity Residential from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Truist Financial upped their price objective 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. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and raised their target price for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada cut their target price on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $77.25.

Equity Residential Stock Performance

EQR traded down $1.22 during trading on Tuesday, reaching $74.02. 1,479,000 shares of the company's stock were exchanged, compared to its average volume of 1,832,255. The company has a market capitalization of $28.09 billion, a P/E ratio of 30.34, a PEG ratio of 6.10 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. 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 fifty-two week low of $57.33 and a fifty-two week high of $78.83.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors 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 dividend on an annualized basis and a yield of 3.65%. Equity Residential's payout ratio is currently 110.66%.

Equity Residential 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.