Equity Residential (NYSE:EQR) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Equity Residential by 7.3% to a total of 203,797 shares, valued at approximately $14.56 million.
• The company's latest quarterly earnings report indicated an EPS of $0.99, meeting analysts’ expectations, with a revenue of $768.83 million, a 4.7% increase compared to the previous year.
• Equity Residential recently declared a quarterly dividend of $0.6925 per share, representing an annualized yield of 4.3%, although its dividend payout ratio is notably high at 104.53%.

Resona Asset Management Co. Ltd. boosted its holdings in Equity Residential (NYSE:EQR - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,797 shares of the real estate investment trust's stock after acquiring an additional 13,934 shares during the period. Resona Asset Management Co. Ltd. owned 0.05% of Equity Residential worth $14,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCW Group Inc. raised its holdings in Equity Residential by 40.4% in the first quarter. TCW Group Inc. now owns 83,417 shares of the real estate investment trust's stock valued at $5,971,000 after buying an additional 23,997 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Equity Residential by 6.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,246 shares of the real estate investment trust's stock worth $232,000 after buying an additional 191 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Equity Residential by 39.1% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 86,203 shares of the real estate investment trust's stock worth $6,170,000 after purchasing an additional 24,232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Equity Residential by 11.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 845,820 shares of the real estate investment trust's stock worth $60,544,000 after purchasing an additional 83,788 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Equity Residential by 9.0% during the first quarter. PNC Financial Services Group Inc. now owns 54,271 shares of the real estate investment trust's stock valued at $3,885,000 after acquiring an additional 4,499 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Up 0.9%

Equity Residential stock traded up $0.60 during mid-day trading on Friday, reaching $64.11. 3,890,265 shares of the company were exchanged, compared to its average volume of 2,275,611. The business has a fifty day moving average of $66.56 and a 200 day moving average of $68.69. The firm has a market cap of $24.48 billion, a P/E ratio of 24.19, a PEG ratio of 3.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17. Equity Residential has a 12-month low of $59.41 and a 12-month high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $768.83 million for the quarter, compared to analyst estimates of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. Research analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 24th were paid a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is currently 104.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Scotiabank reiterated a "sector perform" rating and issued a $77.00 price target (down from $78.00) on shares of Equity Residential in a research report on Thursday. Wall Street Zen lowered Equity Residential from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Stifel Nicolaus set a $80.50 price target on Equity Residential and gave the company a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI decreased their target price on Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, UBS Group decreased their price target on Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $77.78.

Equity Residential Company 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.