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

Asset Management One Co. Ltd. trimmed its position in shares of Equity Residential (NYSE:EQR) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 678,783 shares of the real estate investment trust’s stock after selling 23,988 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Equity Residential were worth $50,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EQR. Principal Financial Group Inc. increased its stake in Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock worth $496,040,000 after buying an additional 5,925,177 shares in the last quarter. National Bank of Canada FI increased its stake in Equity Residential by 679.0% in 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. increased its stake in Equity Residential by 39.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after buying an additional 475,124 shares in the last quarter. Sei Investments Co. increased its stake in Equity Residential by 77.5% in the 1st quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock worth $67,014,000 after buying an additional 463,664 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Equity Residential by 793.8% in the 1st quarter. SG Americas Securities LLC now owns 444,791 shares of the real estate investment trust’s stock worth $28,071,000 after buying an additional 395,029 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Up 0.8 %

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

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.88%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s payout ratio is currently 110.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BNP Paribas initiated coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Wedbush increased their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.19.

Equity Residential 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.