Sumitomo Mitsui Trust Group Inc. lessened its position in Equity Residential (NYSE:EQR - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,665,380 shares of the real estate investment trust's stock after selling 11,065 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.44% of Equity Residential worth $124,004,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock valued at $496,040,000 after acquiring an additional 5,925,177 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Equity Residential by 1,459.8% in 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 acquiring an additional 1,824,494 shares in the last quarter. National Bank of Canada FI boosted its holdings in Equity Residential by 679.0% in the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust's stock valued at $40,528,000 after purchasing an additional 518,424 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Equity Residential by 39.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust's stock valued at $116,245,000 after purchasing an additional 475,124 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Equity Residential by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust's stock valued at $1,279,095,000 after buying an additional 381,236 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on EQR shares. Royal Bank of Canada decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Stifel Nicolaus upgraded Equity Residential from a "hold" rating to a "buy" rating and boosted their target price for the stock from $77.75 to $81.50 in a research note on Wednesday. Piper Sandler upped their price target on Equity Residential from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $77.25.
Check Out Our Latest Stock Analysis on Equity Residential
Equity Residential Stock Down 1.7 %
Equity Residential stock traded down $1.25 during midday trading on Thursday, hitting $73.39. The stock had a trading volume of 615,696 shares, compared to its average volume of 1,846,549. Equity Residential has a 12 month low of $54.53 and a 12 month high of $78.83. The business has a fifty day moving average price of $74.39 and a 200 day moving average price of $70.63. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock has a market cap of $27.85 billion, a P/E ratio of 30.26, a P/E/G ratio of 5.94 and a beta of 0.90.
Equity Residential Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.68%. The ex-dividend date was Tuesday, September 24th. Equity Residential's payout ratio is currently 110.66%.
Equity Residential Profile
(
Free Report)
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.
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