Vestcor Inc Has $8.40 Million Stake in Equity Residential (NYSE:EQR)

Vestcor Inc lifted its holdings in Equity Residential (NYSE:EQR) by 68.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,818 shares of the real estate investment trust’s stock after purchasing an additional 46,002 shares during the period. Vestcor Inc’s holdings in Equity Residential were worth $8,400,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its position in Equity Residential by 1.4% in the 3rd quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust’s stock worth $1,796,976,000 after buying an additional 321,002 shares during the period. FMR LLC grew its stake in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after acquiring an additional 1,741,840 shares during the last quarter. Principal Financial Group Inc. raised 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 valued at $576,737,000 after purchasing an additional 591,866 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Equity Residential by 1.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after purchasing an additional 60,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Equity Residential by 806.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after purchasing an additional 3,789,234 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Scotiabank reduced their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Truist Financial boosted their price objective on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Stifel Nicolaus raised 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 boosted their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Down 0.1 %

NYSE EQR opened at $73.66 on Tuesday. The stock’s 50 day simple moving average is $73.97 and its 200 day simple moving average is $71.76. Equity Residential has a one year low of $57.33 and a one year high of $78.83. The firm has a market cap of $27.95 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 5.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is presently 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.