Resona Asset Management Co. Ltd. Buys New Stake in Equity Residential (NYSE:EQR)

Resona Asset Management Co. Ltd. bought a new position in Equity Residential (NYSE:EQR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 189,863 shares of the real estate investment trust's stock, valued at approximately $13,600,000. Resona Asset Management Co. Ltd. owned approximately 0.05% of Equity Residential as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Keybank National Association OH raised its stake in shares of Equity Residential by 2.0% during the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after acquiring an additional 139 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Equity Residential by 25.3% during the fourth quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 146 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in shares of Equity Residential by 4.1% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust's stock worth $275,000 after buying an additional 151 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 156 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Equity Residential by 4.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,604 shares of the real estate investment trust's stock valued at $402,000 after acquiring an additional 218 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

EQR has been the topic of several recent analyst reports. Mizuho cut their target price on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a research note on Tuesday, February 4th. Barclays cut their price objective on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Truist Financial increased their target price on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Scotiabank increased their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $78.51.

Insider Transactions at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the sale, the chief accounting officer now owns 25,539 shares of the company's stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the sale, the executive vice president now owns 35,507 shares in the company, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock worth $1,424,217 in the last ninety days. Insiders own 1.00% of the company's stock.

Equity Residential Stock Down 0.8 %

Shares of Equity Residential stock traded down $0.48 on Friday, reaching $63.79. The company's stock had a trading volume of 675,461 shares, compared to its average volume of 1,709,467. The firm's fifty day simple moving average is $70.29 and its two-hundred day simple moving average is $71.71. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.84. The company has a market capitalization of $24.22 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 3.99 and a beta of 0.85. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a yield of 4.34%. Equity Residential's payout ratio is currently 101.84%.

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.