Asset Management One Co. Ltd. Sells 23,988 Shares of Equity Residential (NYSE:EQR)

Asset Management One Co. Ltd. lowered its stake in Equity Residential (NYSE:EQR) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 678,783 shares of the real estate investment trust’s stock after selling 23,988 shares during the period. Asset Management One Co. Ltd. owned approximately 0.18% of Equity Residential worth $50,542,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. National Pension Service increased its holdings in shares of Equity Residential by 10.2% in the third quarter. National Pension Service now owns 554,178 shares of the real estate investment trust’s stock worth $41,264,000 after buying an additional 51,501 shares during the period. Intact Investment Management Inc. purchased a new position in Equity Residential during the 3rd quarter valued at about $73,000. Robeco Institutional Asset Management B.V. increased its holdings in Equity Residential by 66.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 619,960 shares of the real estate investment trust’s stock valued at $46,162,000 after purchasing an additional 246,827 shares during the period. Van ECK Associates Corp increased its holdings in Equity Residential by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 165,230 shares of the real estate investment trust’s stock valued at $12,534,000 after purchasing an additional 16,713 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Equity Residential by 66.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,463 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 984 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the topic of a number of research analyst reports. UBS Group boosted their price target on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Piper Sandler upped their target price on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. BNP Paribas started coverage on Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 target price on the stock. The Goldman Sachs Group started coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price on the stock. Finally, Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.19.

Equity Residential Stock Up 0.8 %

EQR stock traded up $0.53 during midday trading on Monday, hitting $69.65. The company’s stock had a trading volume of 87,262 shares, compared to its average volume of 1,856,522. The company has a market cap of $26.41 billion, a PE ratio of 28.33, a P/E/G ratio of 5.88 and a beta of 0.90. Equity Residential has a 12 month low of $53.48 and a 12 month high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.21 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average is $74.69 and its 200-day moving average is $70.16.

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 of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.88%. 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.