ING Groep NV Has $3.40 Million Stock Position in Equity Residential (NYSE:EQR)

ING Groep NV cut its holdings in shares of Equity Residential (NYSE:EQR) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 45,629 shares of the real estate investment trust’s stock after selling 777 shares during the quarter. ING Groep NV’s holdings in Equity Residential were worth $3,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. increased its position in Equity Residential by 4.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,807 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 405 shares during the period. Metis Global Partners LLC increased its holdings in shares of Equity Residential by 19.8% during the 3rd quarter. Metis Global Partners LLC now owns 51,167 shares of the real estate investment trust’s stock worth $3,810,000 after purchasing an additional 8,473 shares during the period. KBC Group NV raised its position in shares of Equity Residential by 337.4% during the third quarter. KBC Group NV now owns 343,976 shares of the real estate investment trust’s stock valued at $25,612,000 after buying an additional 265,334 shares during the last quarter. American Assets Capital Advisers LLC bought a new stake in shares of Equity Residential in the third quarter valued at about $506,000. Finally, Victory Capital Management Inc. grew its position in Equity Residential by 16.1% during the third quarter. Victory Capital Management Inc. now owns 129,125 shares of the real estate investment trust’s stock worth $9,615,000 after buying an additional 17,948 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Up 0.7 %

Shares of NYSE EQR opened at $73.59 on Friday. Equity Residential has a 12-month low of $54.53 and a 12-month high of $78.83. The firm’s 50-day simple moving average is $74.32 and its 200 day simple moving average is $70.71. 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 30.16, a price-to-earnings-growth ratio of 6.07 and a beta of 0.90.

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

EQR has been the subject of several recent research reports. Royal Bank of Canada cut their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and raised their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential currently has an average rating of “Hold” and an average price target 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.