National Pension Service boosted its holdings in shares of Equity Residential (NYSE:EQR – Free Report) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 748,756 shares of the real estate investment trust’s stock after purchasing an additional 143,262 shares during the quarter. National Pension Service’s holdings in Equity Residential were worth $47,202,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Rosenberg Matthew Hamilton boosted its position in Equity Residential by 69.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 440 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 180 shares in the last quarter. Summitry LLC boosted its position in Equity Residential by 6.3% during the third quarter. Summitry LLC now owns 3,193 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 189 shares in the last quarter. MAI Capital Management boosted its position in Equity Residential by 5.4% during the third quarter. MAI Capital Management now owns 3,933 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 202 shares in the last quarter. CI Investments Inc. boosted its position in Equity Residential by 0.6% during the third quarter. CI Investments Inc. now owns 37,510 shares of the real estate investment trust’s stock worth $2,428,000 after purchasing an additional 211 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Equity Residential by 3.1% during the first quarter. Empowered Funds LLC now owns 7,489 shares of the real estate investment trust’s stock worth $536,000 after purchasing an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.
Equity Residential Stock Performance
Shares of Equity Residential stock opened at $65.48 on Monday. The business’s 50 day moving average price is $62.80 and its 200 day moving average price is $62.16. The company has a market cap of $24.53 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 5.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.18 and a current ratio of 0.18. Equity Residential has a one year low of $57.57 and a one year high of $70.31.
Equity Residential Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Monday, March 30th were issued a $0.7025 dividend. This represents a $2.81 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, March 30th. This is an increase from Equity Residential’s previous quarterly dividend of $0.69. Equity Residential’s dividend payout ratio (DPR) is currently 112.40%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Evercore increased their price target on Equity Residential from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler reiterated a “neutral” rating and set a $72.00 price target (down from $78.00) on shares of Equity Residential in a research report on Friday. The Goldman Sachs Group lowered their price target on Equity Residential from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. UBS Group increased their price target on Equity Residential from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, BNP Paribas Exane increased their price target on Equity Residential from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Equity Residential has an average rating of “Moderate Buy” and an average price target of $69.90.
Check Out Our Latest Stock Report on Equity Residential
Equity Residential Company Profile
Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.
The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.
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