Point72 Asia Singapore Pte. Ltd. Cuts Stock Position in Equity Residential (NYSE:EQR)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of Equity Residential (NYSE:EQR) by 56.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,757 shares of the real estate investment trust’s stock after selling 10,069 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Equity Residential were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in EQR. Principal Financial Group Inc. lifted its holdings in Equity Residential by 482.3% during the second 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 purchasing an additional 5,925,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $317,136,000 after buying an additional 3,789,234 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Equity Residential by 1,459.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after buying an additional 1,824,494 shares during the last quarter. FMR LLC increased its stake in Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after buying an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EQR shares. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. Wedbush upped their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Truist Financial increased their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.25.

Equity Residential Trading Down 1.9 %

NYSE EQR opened at $75.24 on Tuesday. Equity Residential has a 12 month low of $57.33 and a 12 month high of $78.83. The stock has a market capitalization of $28.55 billion, a P/E ratio of 30.84, a PEG ratio of 6.22 and a beta of 0.90. The firm’s 50-day moving average is $74.10 and its two-hundred day moving average is $71.45. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.59%. 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.