Caisse DE Depot ET Placement DU Quebec Makes New Investment in Equity Residential (NYSE:EQR)

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Equity Residential (NYSE:EQR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 66,676 shares of the real estate investment trust’s stock, valued at approximately $4,965,000.

Other hedge funds have also made changes to their positions in the company. Maryland Capital Advisors Inc. bought a new position in Equity Residential during the third quarter worth $25,000. Brooklyn Investment Group bought a new position in shares of Equity Residential in the 3rd quarter worth about $33,000. Assetmark Inc. boosted its holdings in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. UMB Bank n.a. boosted its holdings in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $75.24 on Tuesday. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83. 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 stock has a market cap of $28.55 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 6.22 and a beta of 0.90. The company’s 50-day moving average price is $74.10 and its two-hundred day moving average price is $71.45.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a dividend of $0.675 per share. 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 is presently 110.66%.

Analyst Ratings Changes

A number of brokerages have issued reports on EQR. JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company lowered 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 research 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 research report on Thursday, August 29th. The Goldman Sachs Group began coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.