Point72 Hong Kong Ltd Acquires Shares of 8,177 Equity Residential (NYSE:EQR)

Point72 Hong Kong Ltd acquired a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,177 shares of the real estate investment trust’s stock, valued at approximately $609,000.

A number of other institutional investors have also made changes to their positions in EQR. Principal Financial Group Inc. grew its holdings in Equity Residential by 482.3% during the 2nd 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 grew its stake in shares of Equity Residential by 806.4% during the third 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 acquiring an additional 3,789,234 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Equity Residential by 1,459.8% during the third 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 acquiring an additional 1,824,494 shares during the last quarter. FMR LLC lifted its stake in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after acquiring an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Equity Residential by 679.0% in 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 purchasing an additional 518,424 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Down 1.9 %

Equity Residential stock opened at $75.24 on Tuesday. 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 one year low of $57.33 and a one year high of $78.83. The company has a 50-day simple moving average of $74.10 and a 200-day simple moving average of $71.45. The firm has a market capitalization of $28.55 billion, a P/E ratio of 30.84, a P/E/G ratio of 6.22 and a beta of 0.90.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 3.59%. Equity Residential’s payout ratio is currently 110.66%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank reduced their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Truist Financial raised their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Evercore ISI boosted their price objective on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eleven equities 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 company has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Company 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.