Victory Capital Management Inc. Buys 17,948 Shares of Equity Residential (NYSE:EQR)

Victory Capital Management Inc. lifted its stake in shares of Equity Residential (NYSE:EQR) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,125 shares of the real estate investment trust’s stock after acquiring an additional 17,948 shares during the quarter. Victory Capital Management Inc.’s holdings in Equity Residential were worth $9,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Versor Investments LP grew its stake in Equity Residential by 366.4% during the third quarter. Versor Investments LP now owns 25,212 shares of the real estate investment trust’s stock worth $1,877,000 after purchasing an additional 19,806 shares during the period. Los Angeles Capital Management LLC grew its stake in Equity Residential by 1,459.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after acquiring an additional 1,824,494 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in Equity Residential by 18.2% in the third quarter. Mesirow Financial Investment Management Inc. now owns 6,487 shares of the real estate investment trust’s stock valued at $483,000 after acquiring an additional 997 shares during the period. Atria Investments Inc grew its stake in Equity Residential by 28.8% in the third quarter. Atria Investments Inc now owns 28,056 shares of the real estate investment trust’s stock valued at $2,089,000 after acquiring an additional 6,280 shares during the period. Finally, Carmel Capital Partners LLC grew its stake in Equity Residential by 3.3% in the third quarter. Carmel Capital Partners LLC now owns 6,329 shares of the real estate investment trust’s stock valued at $471,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analysts Set New Price Targets

EQR has been the subject of a number of research reports. Truist Financial raised their price objective on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Finally, Piper Sandler lifted their target price on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.25.

Equity Residential Trading Up 1.7 %

Shares of Equity Residential stock opened at $75.18 on Friday. The firm has a market capitalization of $28.53 billion, a PE ratio of 30.81, a P/E/G ratio of 6.06 and a beta of 0.90. Equity Residential has a twelve month low of $56.05 and a twelve month high of $78.83. The firm’s 50-day moving average price is $74.16 and its 200 day moving average price is $70.97. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Equity Residential Company 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.