KBC Group NV Increases Stock Position in Equity Residential (NYSE:EQR)

KBC Group NV lifted its stake in Equity Residential (NYSE:EQR) by 337.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,976 shares of the real estate investment trust’s stock after purchasing an additional 265,334 shares during the period. KBC Group NV owned 0.09% of Equity Residential worth $25,612,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EQR. Principal Financial Group Inc. boosted its stake in shares of Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock worth $496,040,000 after purchasing an additional 5,925,177 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Equity Residential by 1,459.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after acquiring an additional 1,824,494 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Equity Residential by 679.0% during the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after purchasing an additional 518,424 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Equity Residential by 39.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after acquiring an additional 475,124 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.7 %

Equity Residential stock opened at $73.59 on Friday. The company has a market capitalization of $27.92 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 6.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The company’s fifty day moving average price is $74.34 and its two-hundred day moving average price is $70.65. Equity Residential has a one year low of $54.53 and a one year high of $78.83.

Equity Residential Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential’s dividend payout ratio is 110.66%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target 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. Scotiabank reduced their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday. Wedbush lifted their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Evercore ISI increased their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.25.

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.