DnB Asset Management AS Increases Stock Position in Equity Residential (NYSE:EQR)

DnB Asset Management AS grew its stake in shares of Equity Residential (NYSE:EQRGet Rating) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,358 shares of the real estate investment trust’s stock after acquiring an additional 4,683 shares during the quarter. DnB Asset Management AS’s holdings in Equity Residential were worth $4,792,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Equity Residential in the first quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Equity Residential in the first quarter worth approximately $40,000. MCF Advisors LLC purchased a new position in shares of Equity Residential in the first quarter worth approximately $48,000. CVA Family Office LLC boosted its holdings in shares of Equity Residential by 34.9% in the first quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 145 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Equity Residential by 22.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 83.92% of the company’s stock.

Equity Residential Trading Down 1.1 %

EQR stock opened at $72.29 on Tuesday. The firm has a fifty day moving average price of $75.29 and a 200 day moving average price of $78.99. Equity Residential has a fifty-two week low of $67.48 and a fifty-two week high of $94.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market cap of $27.19 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 3.11 and a beta of 0.82.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, September 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, September 23rd. Equity Residential’s dividend payout ratio (DPR) is presently 75.08%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQR. Piper Sandler downgraded shares of Equity Residential from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $78.00 to $70.00 in a report on Wednesday, July 20th. Evercore ISI decreased their target price on shares of Equity Residential from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Monday. Mizuho decreased their target price on shares of Equity Residential from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial decreased their target price on shares of Equity Residential from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. Finally, Credit Suisse Group initiated coverage on shares of Equity Residential in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven 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 has an average rating of “Hold” and a consensus target price of $84.53.

About Equity Residential

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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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