Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Equity Residential (NYSE:EQR – Free Report) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 528,776 shares of the real estate investment trust’s stock after purchasing an additional 18,484 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Equity Residential were worth $34,228,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Equity Residential in the second quarter valued at approximately $2,351,689,000. Prudential Financial Inc. grew its stake in shares of Equity Residential by 725.6% in the second quarter. Prudential Financial Inc. now owns 1,908,429 shares of the real estate investment trust’s stock valued at $128,800,000 after buying an additional 1,677,278 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Equity Residential by 20.9% in 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 buying an additional 1,384,580 shares during the period. GRS Advisors LLC acquired a new position in Equity Residential during the 2nd quarter worth about $70,581,000. Finally, Russell Investments Group Ltd. lifted its stake in Equity Residential by 252.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,329,615 shares of the real estate investment trust’s stock worth $89,731,000 after acquiring an additional 952,813 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.
Equity Residential Trading Up 0.6%
Shares of NYSE:EQR opened at $61.37 on Thursday. Equity Residential has a 52 week low of $58.38 and a 52 week high of $75.86. The company’s 50 day moving average is $61.33 and its two-hundred day moving average is $63.10. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.75. The company has a market cap of $23.35 billion, a PE ratio of 20.25, a P/E/G ratio of 3.09 and a beta of 0.75.
Equity Residential Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.6925 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.5%. Equity Residential’s dividend payout ratio is presently 91.42%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on EQR shares. UBS Group lifted their target price on Equity Residential from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada dropped their price objective on shares of Equity Residential from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. BMO Capital Markets downgraded shares of Equity Residential from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $70.00 to $68.00 in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Residential in a report on Wednesday, October 8th. Finally, Truist Financial dropped their price target 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. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.54.
View Our Latest Analysis on EQR
About Equity Residential
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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