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

Asset Management One Co. Ltd. cut its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service increased its position in shares of Equity Residential by 10.2% during the third quarter. National Pension Service now owns 554,178 shares of the real estate investment trust's stock worth $41,264,000 after acquiring an additional 51,501 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of Equity Residential during the third quarter worth about $73,000. Robeco Institutional Asset Management B.V. increased its position in shares of Equity Residential by 66.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 619,960 shares of the real estate investment trust's stock worth $46,162,000 after acquiring an additional 246,827 shares in the last quarter. Van ECK Associates Corp grew its position in Equity Residential by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 165,230 shares of the real estate investment trust's stock worth $12,534,000 after purchasing an additional 16,713 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Equity Residential by 66.5% in 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 buying an additional 984 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Price Performance

Equity Residential stock traded up $1.10 during midday trading on Monday, reaching $70.22. 1,562,285 shares of the stock were exchanged, compared to its average volume of 1,863,464. Equity Residential has a 52 week low of $53.48 and a 52 week high of $78.83. 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 firm has a market cap of $26.62 billion, a PE ratio of 28.78, a PEG ratio of 5.88 and a beta of 0.90. The company's fifty day moving average is $74.64 and its 200-day moving average is $70.23.

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 dividend on an annualized basis and a dividend yield of 3.85%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EQR. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a "hold" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Truist Financial upped their price objective on Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Scotiabank raised their target price on Equity Residential from $77.00 to $81.00 and gave the company a "sector perform" rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target 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. Finally, Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Twelve research 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, the stock has an average rating of "Hold" and an average target price 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.