National Pension Service lowered its stake in shares of Equity Residential (NYSE:EQR – Free Report) by 94.0% during the second quarter, Holdings Channel reports. The institutional investor owned 38,971 shares of the real estate investment trust’s stock after selling 606,046 shares during the period. National Pension Service’s holdings in Equity Residential were worth $2,647,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in shares of Equity Residential by 3.1% during the 1st quarter. Empowered Funds LLC now owns 7,489 shares of the real estate investment trust’s stock valued at $536,000 after acquiring an additional 226 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Equity Residential by 13.9% in the 2nd quarter. Cresset Asset Management LLC now owns 4,836 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 590 shares during the period. Jump Financial LLC increased its stake in Equity Residential by 96.1% in the 2nd quarter. Jump Financial LLC now owns 11,300 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 5,537 shares in the last quarter. Federated Hermes Inc. purchased a new position in Equity Residential in the 2nd quarter valued at approximately $100,000. Finally, Cerity Partners LLC raised its holdings in Equity Residential by 170.7% during the second quarter. Cerity Partners LLC now owns 20,646 shares of the real estate investment trust’s stock worth $1,393,000 after purchasing an additional 13,018 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.
Equity Residential Trading Up 0.0%
Shares of EQR stock opened at $63.68 on Monday. The company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 5.53 and a beta of 0.73. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $66.16 and a 200 day moving average price of $64.61. Equity Residential has a twelve month low of $57.57 and a twelve month high of $71.50.
Equity Residential Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were given a dividend of $0.7025 per share. The ex-dividend date was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a yield of 4.4%. Equity Residential’s dividend payout ratio (DPR) is 122.17%.
Analyst Upgrades and Downgrades
EQR has been the topic of a number of research analyst reports. Royal Bank Of Canada downgraded Equity Residential from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $69.00 to $70.00 in a research report on Monday, June 8th. Weiss Ratings upgraded Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Mizuho lifted their price target on Equity Residential from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. Truist Financial boosted their price objective on shares of Equity Residential from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Barclays reissued an “equal weight” rating and issued a $76.00 price objective on shares of Equity Residential in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.40.
Get Our Latest Stock Report on Equity Residential
About Equity Residential
Equity Residential (NYSE:EQR) is a real estate investment trust that owns, operates and develops rental apartment communities. The company focuses on providing housing in large, economically diverse metropolitan areas where demand for apartment living is supported by employment, population growth and limited housing supply.
Its portfolio primarily serves residents in major U.S. markets, including Boston, New York, Washington, DC, Southern California, Seattle and Denver. Equity Residential’s activities include leasing apartment homes, managing residential communities and providing resident services and property amenities.
The company traces its roots to 1969 and was founded by real estate investor Samuel Zell.
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