Equity Residential (NYSE:EQR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Equity Residential (NYSE:EQR) by 46.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,496 shares of the real estate investment trust’s stock after selling 46,759 shares during the period. Thrivent Financial for Lutherans’ holdings in Equity Residential were worth $4,058,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew 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 boosted its position in Equity Residential by 1,459.8% during the third 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 purchasing an additional 1,824,494 shares in the last quarter. National Bank of Canada FI grew its holdings in Equity Residential by 679.0% in the second 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. increased its position in shares of 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 valued at $116,245,000 after buying an additional 475,124 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Equity Residential by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock worth $151,174,000 after buying an additional 373,229 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EQR shares. Wedbush raised their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Truist Financial lifted their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI upped their target price on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group initiated coverage on Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target for the company. Finally, Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and increased their price objective for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Equity Residential has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Trading Up 1.0 %

NYSE EQR opened at $75.79 on Monday. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 6.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a one year low of $56.05 and a one year high of $78.83. The company’s 50 day moving average price is $74.12 and its 200 day moving average price is $71.10.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. Equity Residential’s payout ratio is 110.66%.

About Equity Residential

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.