Vestcor Inc Purchases 46,002 Shares of Equity Residential (NYSE:EQR)

Vestcor Inc boosted its holdings in Equity Residential (NYSE:EQR - Free Report) by 68.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,818 shares of the real estate investment trust's stock after purchasing an additional 46,002 shares during the period. Vestcor Inc's holdings in Equity Residential were worth $8,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential in the 3rd quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of Equity Residential during the 3rd quarter worth about $33,000. Assetmark Inc. boosted its holdings in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after buying an additional 430 shares during the period. UMB Bank n.a. boosted its holdings in shares of Equity Residential by 69.6% during the 3rd 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 period. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock worth $38,000 after buying an additional 327 shares during the period. Institutional investors own 92.68% of the company's stock.

Equity Residential Price Performance

EQR stock traded down $0.73 during trading on Tuesday, reaching $72.93. 1,092,627 shares of the company were exchanged, compared to its average volume of 1,818,585. The company has a 50-day moving average of $73.97 and a two-hundred day moving average of $71.76. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 5.98 and a beta of 0.92. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83. 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 firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's payout ratio is 110.66%.

Analysts Set New Price Targets

EQR has been the subject of several research analyst reports. Truist Financial lifted their target price 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. Bank of America downgraded shares of Equity Residential from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Scotiabank reduced their target price on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 target price for the company. Finally, Evercore ISI lifted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Eleven equities research 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 stock presently has an average rating of "Hold" and a consensus price target of $77.25.

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.