Penserra Capital Management LLC Raises Holdings in Equity Residential (NYSE:EQR)

Penserra Capital Management LLC grew its holdings in Equity Residential (NYSE:EQR) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,432 shares of the real estate investment trust’s stock after purchasing an additional 3,186 shares during the period. Penserra Capital Management LLC’s holdings in Equity Residential were worth $2,190,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position 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 during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Equity Residential by 1,459.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after buying an additional 1,824,494 shares during the period. National Bank of Canada FI boosted its stake in shares of Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock worth $40,528,000 after buying an additional 518,424 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Equity Residential by 39.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after acquiring an additional 475,124 shares during the period. Finally, American Century Companies Inc. increased its position in Equity Residential by 20.7% during 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 acquiring an additional 373,229 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQR. BNP Paribas started coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price on the stock. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. 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 report on Thursday, November 14th. Truist Financial boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Trading Up 0.8 %

EQR stock opened at $76.41 on Tuesday. 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 has a 1-year low of $56.05 and a 1-year high of $78.83. The business has a 50 day simple moving average of $74.09 and a two-hundred day simple moving average of $71.17. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 6.15 and a beta of 0.90.

Equity Residential Dividend Announcement

The business also recently announced 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 3.53%. Equity Residential’s payout ratio is 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.