Equity Residential (NYSE:EQR) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in Equity Residential (NYSE:EQR) by 8.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,634 shares of the real estate investment trust’s stock after selling 2,062 shares during the period. Oppenheimer & Co. Inc.’s holdings in Equity Residential were worth $1,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Equity Residential by 1.9% during 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 acquiring an additional 381,236 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Equity Residential by 8.3% in 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 purchasing an additional 591,866 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of 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 purchasing an additional 60,000 shares during the last quarter. Boston Partners grew its position in shares of Equity Residential by 4.3% in 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 in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Equity Residential by 20.7% in the second quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock valued at $151,174,000 after purchasing an additional 373,229 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Up 0.7 %

EQR stock opened at $73.59 on Monday. The stock has a market cap of $27.92 billion, a P/E ratio of 30.16, a PEG ratio of 5.98 and a beta of 0.90. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a twelve month low of $54.53 and a twelve month high of $78.83. The company’s 50 day moving average is $74.32 and its two-hundred day moving average is $70.80.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential’s dividend payout ratio is currently 110.66%.

Analysts Set New Price Targets

A number of research firms have weighed in on EQR. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.75 to $81.50 in a research note on Wednesday, November 13th. Truist Financial boosted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Evercore ISI raised their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group began coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. Finally, Scotiabank cut their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday. Eleven 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, the company has a consensus rating of “Hold” and a consensus price target of $77.25.

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.