National Pension Service Buys 26,590 Shares of Equity Residential $EQR

National Pension Service lifted its position in Equity Residential (NYSE:EQR) by 4.6% in the third quarter, Holdings Channel reports. The firm owned 605,494 shares of the real estate investment trust’s stock after buying an additional 26,590 shares during the period. National Pension Service’s holdings in Equity Residential were worth $39,194,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EQR. Vanguard Group Inc. lifted its holdings in shares of Equity Residential by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 56,316,304 shares of the real estate investment trust’s stock worth $3,800,787,000 after buying an additional 315,370 shares during the period. Norges Bank bought a new stake in shares of Equity Residential in the second quarter valued at about $2,351,689,000. State Street Corp lifted its stake in Equity Residential by 1.8% in the second quarter. State Street Corp now owns 24,234,081 shares of the real estate investment trust’s stock worth $1,651,909,000 after acquiring an additional 417,119 shares during the period. Geode Capital Management LLC boosted its stake in shares of Equity Residential by 1.4% during the second quarter. Geode Capital Management LLC now owns 9,884,977 shares of the real estate investment trust’s stock valued at $664,662,000 after purchasing an additional 137,533 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Equity Residential by 20.9% during the 2nd quarter. Invesco Ltd. now owns 8,019,026 shares of the real estate investment trust’s stock valued at $541,204,000 after acquiring an additional 1,384,580 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Down 1.1%

Equity Residential stock opened at $61.63 on Tuesday. The business’s 50-day moving average price is $61.68 and its 200 day moving average price is $62.79. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.75. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. Equity Residential has a 52 week low of $58.38 and a 52 week high of $75.86.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, January 2nd. Equity Residential’s payout ratio is 91.42%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQR. Evercore ISI cut their price objective on shares of Equity Residential from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group boosted their target price on shares of Equity Residential from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Truist Financial lowered their price objective on shares of Equity Residential from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Mizuho reduced their target price on Equity Residential from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Finally, Barclays reiterated an “overweight” rating and set a $78.00 price target on shares of Equity Residential in a research note on Tuesday, January 13th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and an average price target of $70.01.

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.