Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,827 Shares of Equity Residential (NYSE:EQR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Equity Residential (NYSE:EQR) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,281 shares of the real estate investment trust’s stock after acquiring an additional 1,827 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equity Residential were worth $7,914,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Equity Residential by 7.9% during the 3rd quarter. Creative Planning now owns 17,957 shares of the real estate investment trust’s stock worth $1,337,000 after acquiring an additional 1,310 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Equity Residential by 3.2% during the 3rd quarter. Inspire Investing LLC now owns 40,391 shares of the real estate investment trust’s stock worth $3,008,000 after acquiring an additional 1,263 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Equity Residential by 2.5% during the 3rd quarter. Ritholtz Wealth Management now owns 12,905 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 316 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Equity Residential by 558.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,655 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 3,100 shares in the last quarter. Finally, LVW Advisors LLC lifted its position in shares of Equity Residential by 25.9% during the 3rd quarter. LVW Advisors LLC now owns 9,414 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 1,938 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EQR. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Truist Financial boosted their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI upped their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada upped their price target on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and upped their price target for the company 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 company’s stock. According to data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and a consensus target price of $75.97.

Equity Residential Stock Up 1.0 %

NYSE EQR opened at $75.63 on Friday. The firm has a market cap of $28.71 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89. Equity Residential has a one year low of $52.57 and a one year high of $78.83. The stock’s 50 day simple moving average is $74.30 and its 200 day simple moving average is $69.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The business had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. As a group, sell-side analysts forecast that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 dividend on an annualized basis and a yield of 3.57%. Equity Residential’s payout ratio is 112.03%.

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.