State Street Corp Increases Stock Holdings in Equity Residential (NYSE:EQR)

State Street Corp boosted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,922,127 shares of the real estate investment trust's stock after buying an additional 321,002 shares during the quarter. State Street Corp owned 6.30% of Equity Residential worth $1,796,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers purchased a new position in Equity Residential in the first quarter valued at $2,841,000. Canada Pension Plan Investment Board boosted its stake in shares of Equity Residential by 1.2% in 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 buying an additional 60,000 shares during the period. Quest Partners LLC grew its position in shares of Equity Residential by 244,571.4% during the second quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust's stock worth $1,188,000 after buying an additional 17,120 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Equity Residential by 18.7% during the second quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust's stock worth $3,328,000 after buying an additional 7,549 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Equity Residential by 1,279.0% in the second quarter. Acadian Asset Management LLC now owns 48,210 shares of the real estate investment trust's stock valued at $3,339,000 after acquiring an additional 44,714 shares in the last quarter. 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. BNP Paribas assumed coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price target for the company. The Goldman Sachs Group started coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They set a "neutral" rating and a $81.00 target price for the company. Bank of America cut Equity Residential from a "buy" rating to a "neutral" rating and raised their price target for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Scotiabank dropped their price objective on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped their price target on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Equity Residential currently has a consensus rating of "Hold" and an average price target of $77.25.

Equity Residential Price Performance

EQR stock traded up $0.37 on Friday, reaching $73.75. 1,028,988 shares of the company's stock were exchanged, compared to its average volume of 1,379,258. The stock has a fifty day moving average of $73.98 and a 200-day moving average of $71.67. The firm has a market cap of $27.98 billion, a PE ratio of 30.23, a P/E/G ratio of 5.99 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. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued 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 3.66%. Equity Residential's dividend payout ratio (DPR) is presently 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.