Ontario Teachers Pension Plan Board Trims Stake in Equity Residential (NYSE:EQR)

Ontario Teachers Pension Plan Board reduced its position in Equity Residential (NYSE:EQR) by 54.4% during the third quarter, HoldingsChannel.com reports. The firm owned 24,637 shares of the real estate investment trust’s stock after selling 29,395 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Equity Residential were worth $1,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new stake in Equity Residential in the 3rd quarter worth about $25,000. Assetmark Inc. raised its position in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares during the period. UMB Bank n.a. raised its position in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in Equity Residential by 146.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Price Performance

NYSE EQR opened at $74.50 on Wednesday. The firm’s fifty day simple moving average is $74.26 and its two-hundred day simple moving average is $70.92. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12-month low of $54.70 and a 12-month high of $78.83. The firm has a market capitalization of $28.27 billion, a P/E ratio of 30.53, a P/E/G ratio of 5.98 and a beta of 0.90.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.62%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price on the stock. Truist Financial raised their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Piper Sandler raised their target price on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential currently has an average rating of “Hold” and an average target price of $77.25.

Equity Residential Company Profile

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.