American Assets Capital Advisers LLC Makes New $506,000 Investment in Equity Residential (NYSE:EQR)

American Assets Capital Advisers LLC acquired a new stake in Equity Residential (NYSE:EQR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,800 shares of the real estate investment trust’s stock, valued at approximately $506,000.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Equity Residential by 1.9% during 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. increased 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 valued at $576,737,000 after acquiring an additional 591,866 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of 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 acquiring an additional 60,000 shares during the period. Boston Partners boosted 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 worth $171,368,000 after acquiring an additional 112,270 shares in the last quarter. Finally, American Century Companies Inc. grew 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 purchasing an additional 373,229 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Down 0.5 %

EQR stock traded down $0.35 during trading on Tuesday, reaching $73.15. The stock had a trading volume of 184,505 shares, compared to its average volume of 1,848,923. Equity Residential has a one year low of $53.74 and a one year high of $78.83. The company’s 50 day moving average is $74.46 and its two-hundred day moving average is $70.55. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $27.76 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 6.14 and a beta of 0.90.

Equity Residential Announces Dividend

The firm also recently declared 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. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. UBS Group increased 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. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $69.00 to $77.00 in a report on Monday, August 26th. Truist Financial increased their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Wedbush boosted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and a consensus target price of $76.19.

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.