Victory Capital Management Inc. Raises Position in Equity Residential (NYSE:EQR)

Victory Capital Management Inc. grew its holdings in shares of Equity Residential (NYSE:EQRGet Rating) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,187 shares of the real estate investment trust’s stock after purchasing an additional 9,625 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Equity Residential worth $21,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQR. UMB Bank N A MO purchased a new stake in shares of Equity Residential during the 4th quarter valued at $30,000. Riverview Trust Co acquired a new position in shares of Equity Residential in the 1st quarter valued at $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Equity Residential in the 1st quarter valued at $40,000. CVA Family Office LLC increased its position in shares of Equity Residential by 34.9% in the 1st quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 145 shares during the period. Finally, CWM LLC acquired a new position in shares of Equity Residential in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Equity Residential Trading Up 0.6 %

Shares of Equity Residential stock opened at $74.93 on Friday. The firm has a market capitalization of $28.18 billion, a PE ratio of 22.50, a P/E/G ratio of 3.22 and a beta of 0.81. Equity Residential has a twelve month low of $67.48 and a twelve month high of $94.32. The firm’s 50-day moving average price is $73.14 and its 200 day moving average price is $81.44. The company has a current ratio of 0.24, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Monday, June 27th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, June 24th. Equity Residential’s dividend payout ratio is presently 75.08%.

Insider Activity at Equity Residential

In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now directly owns 12,497 shares of the company’s stock, valued at approximately $876,039.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EQR shares. UBS Group upped their target price on Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Jefferies Financial Group cut their price target on Equity Residential from $78.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Barclays cut their price target on Equity Residential from $97.00 to $83.00 in a research report on Tuesday, May 10th. Truist Financial cut their price target on Equity Residential from $85.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. Finally, Scotiabank cut their price target on Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus target price of $84.18.

Equity Residential Profile

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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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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