Mackenzie Financial Corp Acquires 7,179 Shares of Equity Residential (NYSE:EQR)

Mackenzie Financial Corp lifted its holdings in Equity Residential (NYSE:EQRGet Rating) by 15.8% in the second quarter, HoldingsChannel reports. The fund owned 52,706 shares of the real estate investment trust’s stock after buying an additional 7,179 shares during the period. Mackenzie Financial Corp’s holdings in Equity Residential were worth $3,806,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Equity Residential by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 57,697,368 shares of the real estate investment trust’s stock worth $5,188,147,000 after acquiring an additional 1,408,032 shares during the last quarter. State Street Corp raised its holdings in Equity Residential by 3.8% during the 1st quarter. State Street Corp now owns 24,174,326 shares of the real estate investment trust’s stock valued at $2,188,462,000 after buying an additional 889,805 shares during the last quarter. Bank of America Corp DE raised its holdings in Equity Residential by 18.8% during the 1st quarter. Bank of America Corp DE now owns 13,792,116 shares of the real estate investment trust’s stock valued at $1,240,187,000 after buying an additional 2,181,925 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Equity Residential by 7.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,455,292 shares of the real estate investment trust’s stock valued at $400,620,000 after buying an additional 327,435 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Equity Residential by 34.9% during the 1st quarter. Invesco Ltd. now owns 3,647,722 shares of the real estate investment trust’s stock valued at $328,002,000 after buying an additional 943,870 shares during the last quarter. 83.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EQR has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Equity Residential from $72.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 19th. Mizuho lowered their price target on shares of Equity Residential from $77.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Barclays reduced their price objective on shares of Equity Residential from $88.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 10th. Piper Sandler reduced their price objective on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a research report on Friday, October 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Equity Residential from $86.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.00.

Equity Residential Stock Performance

Shares of EQR stock opened at $62.93 on Monday. Equity Residential has a one year low of $59.32 and a one year high of $94.32. The company’s 50-day moving average is $65.29 and its 200 day moving average is $71.24. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.20 and a current ratio of 0.20.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, September 26th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.97%. The ex-dividend date was Friday, September 23rd. Equity Residential’s dividend payout ratio (DPR) is 82.24%.

Equity Residential Profile

(Get Rating)

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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