Canada Pension Plan Investment Board Has $346.79 Million Stock Position in Equity Residential (NYSE:EQR)

Canada Pension Plan Investment Board increased its stake in Equity Residential (NYSE:EQR) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,001,360 shares of the real estate investment trust’s stock after acquiring an additional 60,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Equity Residential were worth $346,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its holdings in Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in Equity Residential by 3.8% during the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. grew its holdings in Equity Residential by 12.4% during the second quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 201 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Equity Residential by 1.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,864 shares of the real estate investment trust’s stock worth $815,000 after buying an additional 208 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Robert Garechana sold 6,357 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $69.08, for a total transaction of $439,141.56. Following the sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EQR. UBS Group upped their price target on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Evercore ISI upped their price objective on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday. Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Finally, Wedbush upped their price objective on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.62.

Equity Residential Stock Down 0.0 %

EQR stock opened at $77.06 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 4.27 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The stock has a fifty day moving average of $72.53 and a 200-day moving average of $67.52.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, equities research analysts predict that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be issued a dividend of $0.675 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.50%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

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.