Sumitomo Mitsui DS Asset Management Company Ltd Buys 9,147 Shares of 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 raised its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure 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).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Equity Residential by 0.4% during the first quarter. Vanguard Group Inc. now owns 56,000,934 shares of the real estate investment trust's stock valued at $4,008,547,000 after purchasing an additional 199,943 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Equity Residential by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust's stock worth $1,482,537,000 after acquiring an additional 1,101,027 shares in the last quarter. Invesco Ltd. raised its stake in shares of Equity Residential by 1.7% during the first quarter. Invesco Ltd. now owns 6,634,446 shares of the real estate investment trust's stock worth $474,894,000 after acquiring an additional 112,004 shares in the last quarter. Resolution Capital Ltd raised its stake in shares of Equity Residential by 3.8% during the first quarter. Resolution Capital Ltd now owns 5,077,065 shares of the real estate investment trust's stock worth $363,416,000 after acquiring an additional 185,876 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Equity Residential by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,696,175 shares of the real estate investment trust's stock worth $336,152,000 after acquiring an additional 198,344 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Up 0.4%

Equity Residential stock traded up $0.29 during mid-day trading on Friday, reaching $65.16. The stock had a trading volume of 5,032,219 shares, compared to its average volume of 1,793,073. The company has a market capitalization of $24.88 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 3.30 and a beta of 0.93. The company has a 50-day moving average price of $65.27 and a two-hundred day moving average price of $67.54. Equity Residential has a one year low of $59.41 and a one year high of $78.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.99. The company had revenue of $768.83 million for the quarter, compared to analysts' expectations of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. Equity Residential's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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, analysts expect that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on EQR. Wells Fargo & Company decreased their price target on shares of Equity Residential from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Scotiabank decreased their target price on shares of Equity Residential from $78.00 to $77.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 14th. Truist Financial decreased their target price on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Wall Street Zen raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $75.25.

About Equity Residential

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.