MetLife Investment Management LLC Decreases Position in Equity Residential (NYSE:EQR)

MetLife Investment Management LLC trimmed its holdings in shares of Equity Residential (NYSE:EQR) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,708 shares of the real estate investment trust’s stock after selling 3,391 shares during the period. MetLife Investment Management LLC’s holdings in Equity Residential were worth $7,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential in the third quarter worth $25,000. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the third quarter valued at about $33,000. Assetmark Inc. raised its stake in shares of Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 430 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Equity Residential by 69.6% during the third 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. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Equity Residential by 41.9% in the second 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 last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent analyst reports. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Truist Financial upped their target price on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Trading Down 1.0 %

NYSE:EQR opened at $76.67 on Friday. Equity Residential has a 52 week low of $56.40 and a 52 week high of $78.83. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 6.28 and a beta of 0.90. The company’s 50 day moving average price is $74.10 and its 200-day moving average price is $71.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

About Equity Residential

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.