Metis Global Partners LLC Acquires 8,473 Shares of Equity Residential (NYSE:EQR)

Metis Global Partners LLC increased its holdings in Equity Residential (NYSE:EQR) by 19.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,167 shares of the real estate investment trust’s stock after acquiring an additional 8,473 shares during the quarter. Metis Global Partners LLC’s holdings in Equity Residential were worth $3,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of EQR. Price T Rowe Associates Inc. MD grew its holdings in Equity Residential by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares during the period. Principal Financial Group Inc. grew its stake in shares of Equity Residential by 8.3% in the 3rd 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 during the last quarter. Canada Pension Plan Investment Board increased its position in Equity Residential by 1.2% during the 2nd 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 in the last quarter. Boston Partners raised its stake in Equity Residential by 4.3% during the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after buying an additional 112,270 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Equity Residential by 20.7% in the second quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock worth $151,174,000 after acquiring an additional 373,229 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Trading Down 2.1 %

Shares of Equity Residential stock opened at $73.07 on Friday. Equity Residential has a 1-year low of $54.53 and a 1-year high of $78.83. The company’s fifty day simple moving average is $74.39 and its 200-day simple moving average is $70.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $27.72 billion, a PE ratio of 29.95, a P/E/G ratio of 6.07 and a beta of 0.90.

Equity Residential Announces Dividend

The business also recently announced 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 was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.70%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analyst Ratings Changes

EQR has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group lifted their target price on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Scotiabank decreased their price objective on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Truist Financial increased their target price on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.25.

About Equity Residential

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.