The Manufacturers Life Insurance Company Has $40.16 Million Position in Equity Residential (NYSE:EQR)

The Manufacturers Life Insurance Company lessened its position in Equity Residential (NYSE:EQR) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 539,342 shares of the real estate investment trust’s stock after selling 20,214 shares during the period. The Manufacturers Life Insurance Company’s holdings in Equity Residential were worth $40,159,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC acquired a new position in Equity Residential in the second quarter valued at about $3,893,000. Boston Partners boosted its holdings in shares of Equity Residential by 4.3% in the 1st 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. Cetera Investment Advisers bought a new stake in Equity Residential during the 1st quarter worth approximately $2,841,000. Canada Pension Plan Investment Board increased its holdings 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 purchasing an additional 60,000 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Equity Residential by 244,571.4% in the second quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock worth $1,188,000 after purchasing an additional 17,120 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $77.48 on Friday. The stock’s fifty day simple moving average is $74.10 and its 200 day simple moving average is $71.33. 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 capitalization of $29.40 billion, a PE ratio of 31.75, a PEG ratio of 6.20 and a beta of 0.90. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 3.48%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on EQR shares. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their price target for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Royal Bank of Canada dropped their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Equity Residential has an average rating of “Hold” and an average 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.