Swiss National Bank Purchases 2,600 Shares of Equity Residential (NYSE:EQR)

Swiss National Bank grew its position in shares of Equity Residential (NYSE:EQR) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,012,350 shares of the real estate investment trust’s stock after buying an additional 2,600 shares during the quarter. Swiss National Bank owned approximately 0.27% of Equity Residential worth $75,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Equity Residential by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after purchasing an additional 381,236 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Equity Residential in the second quarter worth about $3,893,000. Boston Partners grew its stake in shares of Equity Residential by 4.3% during the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after purchasing an additional 112,270 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Equity Residential in the first quarter valued at approximately $2,841,000. Finally, Canada Pension Plan Investment Board raised its position 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 worth $346,794,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent research reports. Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group started coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. increased their price objective 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. Piper Sandler increased their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank cut their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Up 0.1 %

EQR stock opened at $74.50 on Wednesday. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 5.98 and a beta of 0.90. Equity Residential has a twelve month low of $54.70 and a twelve month high of $78.83. The business has a 50 day moving average price of $74.26 and a two-hundred day moving average price of $70.92. 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 company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.62%. Equity Residential’s dividend payout ratio is presently 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.