Equity Residential (NYSE:EQR) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its stake in Equity Residential (NYSE:EQR - Free Report) by 42.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 56,191 shares of the real estate investment trust's stock after selling 41,866 shares during the quarter. Point72 Asset Management L.P.'s holdings in Equity Residential were worth $4,184,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EQR. Principal Financial Group Inc. lifted its stake in Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock worth $496,040,000 after purchasing an additional 5,925,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Equity Residential by 806.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock worth $317,136,000 after buying an additional 3,789,234 shares during the period. Los Angeles Capital Management LLC increased its position in Equity Residential by 1,459.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust's stock worth $145,158,000 after buying an additional 1,824,494 shares during the period. FMR LLC increased its position in Equity Residential by 29.0% during the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock worth $576,804,000 after buying an additional 1,741,840 shares during the period. Finally, National Bank of Canada FI increased its position in Equity Residential by 679.0% during the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust's stock worth $40,528,000 after buying an additional 518,424 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on EQR shares. Royal Bank of Canada cut their price target on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised Equity Residential from a "hold" rating to a "buy" rating and lifted their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Truist Financial lifted their price target on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus raised Equity Residential from a "hold" rating to a "buy" rating and boosted their target price for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $77.25.

Equity Residential Trading Down 0.2 %

Equity Residential stock traded down $0.16 during trading on Monday, hitting $73.59. The company's stock had a trading volume of 610,426 shares, compared to its average volume of 1,818,542. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 5.98 and a beta of 0.92. The stock's fifty day moving average is $73.98 and its 200 day moving average is $71.71. Equity Residential has a 1-year low of $57.33 and a 1-year 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.

Equity Residential Announces Dividend

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 of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential's payout ratio is currently 110.66%.

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.