Canada Pension Plan Investment Board Has $346.79 Million Stock Holdings in Equity Residential (NYSE:EQR)

Canada Pension Plan Investment Board lifted its position in shares of Equity Residential (NYSE:EQR) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,001,360 shares of the real estate investment trust’s stock after buying an additional 60,000 shares during the quarter. Canada Pension Plan Investment Board owned about 1.32% of Equity Residential worth $346,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AR Asset Management Inc. lifted its holdings in shares of Equity Residential by 12.4% during the second quarter. AR Asset Management Inc. now owns 54,500 shares of the real estate investment trust’s stock worth $3,779,000 after buying an additional 6,000 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in shares of Equity Residential by 1.8% during the second quarter. Elo Mutual Pension Insurance Co now owns 33,399 shares of the real estate investment trust’s stock worth $2,316,000 after buying an additional 588 shares in the last quarter. Waterloo Capital L.P. acquired a new stake in shares of Equity Residential during the second quarter worth $429,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Equity Residential by 41.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,185 shares of the real estate investment trust’s stock worth $1,815,000 after buying an additional 7,669 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Equity Residential by 21.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 81,026 shares of the real estate investment trust’s stock worth $5,618,000 after buying an additional 14,267 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Performance

NYSE:EQR opened at $77.06 on Friday. The stock has a market cap of $29.25 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 4.27 and a beta of 0.89. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $72.53 and its 200-day moving average is $67.52. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.49). The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQR. Wedbush boosted their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Mizuho boosted their price target on Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Piper Sandler boosted their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank boosted their price target on Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Evercore ISI boosted their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.62.

Insider Transactions at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $69.08, for a total value of $439,141.56. Following the transaction, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.