Boussard & Gavaudan Investment Management LLP Acquires Shares of 132,339 Equity Residential (NYSE:EQR)

Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Equity Residential (NYSE:EQR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 132,339 shares of the real estate investment trust’s stock, valued at approximately $9,802,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of Equity Residential in the 1st quarter worth about $1,644,000. PGGM Investments grew its position in shares of Equity Residential by 148.2% in the 1st quarter. PGGM Investments now owns 6,879 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 4,108 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Equity Residential in the 1st quarter worth about $2,841,000. Cetera Advisors LLC grew its position in shares of Equity Residential by 3.7% in the 1st quarter. Cetera Advisors LLC now owns 33,184 shares of the real estate investment trust’s stock worth $2,094,000 after buying an additional 1,169 shares during the period. Finally, Boston Partners grew its position in shares of Equity Residential by 4.3% in the 1st quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock worth $171,368,000 after buying an additional 112,270 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $77.47 on Thursday. The firm’s 50 day moving average price is $74.09 and its 200-day moving average price is $71.28. Equity Residential has a twelve month low of $56.05 and a twelve month high of $78.83. 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 stock has a market capitalization of $29.39 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 6.20 and a beta of 0.90.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Piper Sandler increased their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. BNP Paribas initiated coverage on shares of Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective on the stock. Finally, Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Equity Residential presently has a consensus rating of “Hold” and a consensus 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.