Equity Residential (NYSE:EQR) Shares Acquired by Fmr LLC

Fmr LLC lifted its position in shares of Equity Residential (NYSE:EQR) by 29.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,746,494 shares of the real estate investment trust’s stock after acquiring an additional 1,741,840 shares during the period. Fmr LLC’s holdings in Equity Residential were worth $576,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Equity Residential by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after buying an additional 591,866 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Equity Residential by 1.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock worth $346,794,000 after buying an additional 60,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Equity Residential by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock worth $298,461,000 after buying an additional 124,795 shares during the last quarter. Boston Partners grew its stake in Equity Residential by 4.3% during the 1st quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock worth $171,368,000 after buying an additional 112,270 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Equity Residential by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock worth $151,174,000 after buying an additional 373,229 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $77.48 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $74.10 and its two-hundred day moving average is $71.33. The company has a market cap of $29.40 billion, a P/E ratio of 31.75, a P/E/G ratio of 6.20 and a beta of 0.90. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Upgrades and Downgrades

EQR has been the subject of several recent analyst reports. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Scotiabank decreased their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada decreased their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their target price for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group began coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential 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.