Investment Management Corp of Ontario Buys 12,259 Shares of Equity Residential (NYSE:EQR)

Investment Management Corp of Ontario raised its stake in shares of Equity Residential (NYSE:EQR) by 158.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,989 shares of the real estate investment trust’s stock after purchasing an additional 12,259 shares during the quarter. Investment Management Corp of Ontario’s holdings in Equity Residential were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Maryland Capital Advisors Inc. bought a new position in Equity Residential in the third quarter valued at $25,000. Assetmark Inc. increased its position in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Equity Residential during the 3rd quarter valued at about $33,000. UMB Bank n.a. lifted its position in 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 worth $35,000 after buying an additional 195 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Analysts Set New Price Targets

EQR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on Equity Residential from $68.00 to $80.00 and gave the company 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 raised their price objective for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Scotiabank cut their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Finally, Truist Financial increased their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.25.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $73.38 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $27.84 billion, a P/E ratio of 30.07, a P/E/G ratio of 6.00 and a beta of 0.92. The business has a fifty day simple moving average of $73.99 and a 200-day simple moving average of $71.58. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Equity Residential Profile

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.