Equity Residential (NYSE:EQR) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its position in shares of Equity Residential (NYSE:EQR) by 1,255.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,901 shares of the real estate investment trust’s stock after acquiring an additional 2,687 shares during the period. Meeder Asset Management Inc.’s holdings in Equity Residential were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after acquiring an additional 5,925,177 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Equity Residential by 1,459.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after purchasing an additional 1,824,494 shares in the last quarter. National Bank of Canada FI grew its position in shares of Equity Residential by 679.0% in the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after purchasing an additional 518,424 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Equity Residential by 39.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after purchasing an additional 475,124 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

NYSE:EQR opened at $74.50 on Wednesday. Equity Residential has a fifty-two week low of $54.70 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50 day moving average price of $74.26 and a 200 day moving average price of $70.92. The stock has a market capitalization of $28.27 billion, a P/E ratio of 30.53, a PEG ratio of 5.98 and a beta of 0.90.

Equity Residential Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on EQR shares. Truist Financial increased 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. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and raised their price objective for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. BNP Paribas started coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 target price for the company. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada dropped their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.25.

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.