KBC Group NV Purchases 265,334 Shares of Equity Residential (NYSE:EQR)

KBC Group NV boosted its stake in Equity Residential (NYSE:EQR) by 337.4% in the third quarter, Holdings Channel reports. The firm owned 343,976 shares of the real estate investment trust’s stock after purchasing an additional 265,334 shares during the quarter. KBC Group NV’s holdings in Equity Residential were worth $25,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. American Assets Capital Advisers LLC acquired a new position in Equity Residential in the 3rd quarter worth about $506,000. Victory Capital Management Inc. increased its position in Equity Residential by 16.1% in the 3rd quarter. Victory Capital Management Inc. now owns 129,125 shares of the real estate investment trust’s stock valued at $9,615,000 after acquiring an additional 17,948 shares during the period. Versor Investments LP lifted its holdings in shares of 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 shares of 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 worth $145,158,000 after purchasing an additional 1,824,494 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings 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 purchasing an additional 997 shares during the period. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Up 0.7 %

Shares of NYSE EQR opened at $73.59 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $27.92 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 6.07 and a beta of 0.90. Equity Residential has a 52 week low of $54.53 and a 52 week high of $78.83. The firm’s fifty day moving average is $74.34 and its 200 day moving average is $70.65.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wedbush lifted their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. Wells Fargo & Company lowered shares of Equity Residential from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Finally, Scotiabank lowered their target price on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Equity Residential has an average rating of “Hold” and an average target price of $77.25.

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.