BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 210,545 Shares of Equity Residential (NYSE:EQR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in shares of Equity Residential (NYSE:EQR) by 66.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 108,424 shares of the real estate investment trust’s stock after selling 210,545 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Equity Residential were worth $8,073,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Equity Residential by 1,459.8% during the 3rd 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 buying an additional 1,824,494 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Equity Residential by 679.0% during the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock worth $40,528,000 after buying an additional 518,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 acquiring an additional 475,124 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Equity Residential by 20.7% during the second quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock valued at $151,174,000 after acquiring an additional 373,229 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EQR. BNP Paribas started coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Scotiabank reduced their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Wedbush lifted their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Evercore ISI raised their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $75.79 on Monday. The company has a 50 day moving average of $74.12 and a 200 day moving average of $71.10. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock has a market cap of $28.76 billion, a P/E ratio of 31.06, a P/E/G ratio of 6.09 and a beta of 0.90. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.56%. Equity Residential’s dividend payout ratio (DPR) is presently 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.