Connor Clark & Lunn Investment Management Ltd. Invests $7.38 Million in Equity Residential (NYSE:EQR)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Equity Residential (NYSE:EQR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 99,171 shares of the real estate investment trust’s stock, valued at approximately $7,384,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Equity Residential by 482.3% during 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 buying an additional 5,925,177 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,824,494 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Equity Residential by 679.0% during 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 acquiring an additional 518,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Equity Residential by 39.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock valued at $116,245,000 after purchasing an additional 475,124 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Equity Residential by 1.9% in the first 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 in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EQR shares. The Goldman Sachs Group assumed coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price for the company. Truist Financial lifted their price objective 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 increased their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, BNP Paribas assumed coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Trading Up 1.0 %

Equity Residential stock opened at $75.79 on Friday. 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 stock has a market cap of $28.76 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 6.06 and a beta of 0.90. The stock has a 50-day moving average of $74.12 and a two-hundred day moving average of $71.03. Equity Residential has a one year low of $56.05 and a one year high of $78.83.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is currently 110.66%.

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.