BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 210,545 Shares of Equity Residential (NYSE:EQR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in Equity Residential (NYSE:EQR) by 66.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,424 shares of the real estate investment trust’s stock after selling 210,545 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Equity Residential were worth $8,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Equity Residential in the 2nd quarter valued at approximately $3,893,000. Boston Partners increased its position 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 worth $171,368,000 after acquiring an additional 112,270 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Equity Residential during the first quarter worth $2,841,000. Canada Pension Plan Investment Board lifted 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 valued at $346,794,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Quest Partners LLC lifted its position in Equity Residential by 244,571.4% in the 2nd quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock valued at $1,188,000 after acquiring an additional 17,120 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Up 1.0 %

Equity Residential stock opened at $75.79 on Monday. The firm has a 50 day moving average price of $74.12 and a two-hundred day moving average price of $71.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a 52-week low of $56.05 and a 52-week high of $78.83. The firm has a market cap of $28.76 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 6.09 and a beta of 0.90.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.56%. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EQR. Piper Sandler increased their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. Scotiabank decreased their price target on shares of 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. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and an average price target 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.