Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Equity Residential (NYSE:EQR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Equity Residential (NYSE:EQR - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,932 shares of the real estate investment trust's stock after purchasing an additional 6,651 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Equity Residential were worth $8,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Maryland Capital Advisors Inc. bought a new stake in Equity Residential during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Equity Residential in the 3rd quarter worth $29,000. Assetmark Inc. increased its stake in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the third quarter worth about $33,000. Finally, UMB Bank n.a. boosted its holdings in Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQR. StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company cut their price objective on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Evercore ISI upped their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a report on Monday. Mizuho lowered their price objective on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, Scotiabank reduced their target price on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $78.36.

Equity Residential Stock Up 0.7 %

Equity Residential stock traded up $0.53 during mid-day trading on Tuesday, reaching $71.44. 1,234,972 shares of the company's stock were exchanged, compared to its average volume of 1,711,158. The company has a fifty day moving average of $70.83 and a 200-day moving average of $72.74. The company has a market cap of $27.11 billion, a P/E ratio of 26.26, a P/E/G ratio of 4.49 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.78%. Equity Residential's dividend payout ratio (DPR) is presently 99.26%.

Insider Buying and Selling

In other news, COO Michael L. Manelis sold 9,487 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the sale, the chief operating officer now directly owns 26,781 shares in the company, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Garechana sold 4,294 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $309,425.64. Following the transaction, the chief financial officer now owns 14,108 shares of the company's stock, valued at approximately $1,016,622.48. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.