Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Equity Residential $EQR

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Equity Residential by 7.9% during the second quarter, acquiring an additional 9,147 shares, bringing its total holdings to 124,351 shares valued at approximately $8.39 million.
• Equity Residential reported a $0.99 earnings per share for the latest quarter, matching analysts' estimates, with revenues reaching $768.83 million, reflecting a 4.7% year-over-year increase.
• The company announced a quarterly dividend of $0.6925 per share, representing a 4.3% yield, with a total annualized dividend amount of $2.77.

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Equity Residential (NYSE:EQR - Free Report) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,351 shares of the real estate investment trust's stock after purchasing an additional 9,147 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Equity Residential were worth $8,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Equity Residential by 51.6% during the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 157 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Equity Residential during the 1st quarter valued at approximately $37,000. Keystone Global Partners LLC bought a new stake in Equity Residential during the 1st quarter valued at approximately $47,000. Zions Bancorporation National Association UT bought a new stake in Equity Residential during the 1st quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Equity Residential by 27.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 160 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQR has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Equity Residential from $76.00 to $75.00 in a report on Tuesday. Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the company a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Mizuho decreased their price objective on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, UBS Group decreased their price objective on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.25.

Equity Residential Stock Performance

Shares of EQR stock traded up $0.29 during mid-day trading on Friday, reaching $65.16. 5,032,219 shares of the company's stock traded hands, compared to its average volume of 1,793,073. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.32. The firm has a 50 day moving average price of $65.27 and a two-hundred day moving average price of $67.58. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $24.88 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.29 and a beta of 0.93.

Equity Residential (NYSE:EQR - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. Equity Residential's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, research analysts forecast that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, September 25th will be issued a $0.6925 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.77 annualized dividend and a yield of 4.3%. Equity Residential's dividend payout ratio is currently 104.53%.

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.