Equity Residential (NYSE:EQR) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its stake in Equity Residential (NYSE:EQR) by 29.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,438 shares of the real estate investment trust’s stock after selling 12,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Equity Residential were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in EQR. Maryland Capital Advisors Inc. acquired a new position in Equity Residential during the third quarter worth about $25,000. Assetmark Inc. grew its stake in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Up 0.5 %

EQR opened at $77.47 on Thursday. The company 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. The business has a 50-day moving average of $74.09 and a 200-day moving average of $71.28. Equity Residential has a fifty-two week low of $56.05 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13.

Equity Residential Dividend Announcement

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

Analyst Ratings Changes

EQR has been the topic of several research reports. 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. The Goldman Sachs Group initiated coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price for the company. Evercore ISI lifted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Piper Sandler upped their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $77.25.

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.