Point72 Hong Kong Ltd Makes New $609,000 Investment in Equity Residential (NYSE:EQR)

Point72 Hong Kong Ltd acquired a new stake in Equity Residential (NYSE:EQR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,177 shares of the real estate investment trust’s stock, valued at approximately $609,000.

A number of other large investors have also made changes to their positions in EQR. FMR LLC lifted its holdings in Equity Residential by 29.0% in the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock valued at $576,804,000 after purchasing an additional 1,741,840 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equity Residential by 8.3% during the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after buying an additional 591,866 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Equity Residential by 1.2% in the second 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 buying an additional 60,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 buying an additional 3,789,234 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Equity Residential by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock worth $298,461,000 after acquiring an additional 124,795 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR stock opened at $75.24 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $28.55 billion, a PE ratio of 30.84, a P/E/G ratio of 6.22 and a beta of 0.90. The company’s fifty day simple moving average is $74.10 and its 200-day simple moving average is $71.45. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.59%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analyst Ratings Changes

Several research analysts have weighed in on EQR shares. Royal Bank of Canada cut their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their price objective for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Truist Financial raised their price target on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.