Ontario Teachers Pension Plan Board Buys Shares of 5,335 Equity Residential (NYSE:EQR)

Ontario Teachers Pension Plan Board purchased a new position in Equity Residential (NYSE:EQR) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,335 shares of the real estate investment trust’s stock, valued at approximately $320,000.

Other large investors also recently made changes to their positions in the company. Trust Co. of Vermont grew its holdings in Equity Residential by 340.0% during the first quarter. Trust Co. of Vermont now owns 440 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 340 shares during the last quarter. OLD Mission Capital LLC bought a new position in Equity Residential in the 4th quarter worth $28,000. Massmutual Trust Co. FSB ADV lifted its position in Equity Residential by 133.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 474 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 271 shares during the last quarter. Money Concepts Capital Corp bought a new stake in Equity Residential during the fourth quarter valued at about $29,000. Finally, Janiczek Wealth Management LLC grew its position in shares of Equity Residential by 536.7% in the first quarter. Janiczek Wealth Management LLC now owns 503 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 424 shares during the last quarter. Institutional investors own 84.79% of the company’s stock.

Insider Transactions at Equity Residential

In related news, COO Michael L. Manelis sold 2,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $66.04, for a total transaction of $165,100.00. Following the completion of the sale, the chief operating officer now directly owns 22,844 shares of the company’s stock, valued at approximately $1,508,617.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EQR has been the topic of a number of research analyst reports. TheStreet raised Equity Residential from a “c+” rating to a “b-” rating in a report on Monday, July 17th. Piper Sandler upgraded shares of Equity Residential from an “underweight” rating to a “neutral” rating and upped their target price for the company from $63.00 to $68.00 in a research note on Friday, June 9th. Morgan Stanley raised their price target on shares of Equity Residential from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 19th. Truist Financial upped their price objective on shares of Equity Residential from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on Equity Residential from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.94.

Equity Residential Trading Down 0.1 %

Shares of EQR stock opened at $63.16 on Monday. The company has a market capitalization of $23.94 billion, a P/E ratio of 28.58, a P/E/G ratio of 3.09 and a beta of 0.82. Equity Residential has a 12-month low of $54.60 and a 12-month high of $73.19. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $65.32 and a 200 day moving average price of $63.07.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Tuesday, September 26th will be paid a $0.6625 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.20%. Equity Residential’s dividend payout ratio (DPR) is currently 119.91%.

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 304 properties consisting of 80,212 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.