Sumitomo Mitsui Trust Group Inc. Has $146.41 Million Holdings in Equity Residential (NYSE:EQR)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,045,411 shares of the real estate investment trust's stock after purchasing an additional 34,043 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.54% of Equity Residential worth $146,411,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. SRS Capital Advisors Inc. raised its holdings in shares of Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 310 shares during the period. Versant Capital Management Inc increased its holdings 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 worth $33,000 after purchasing an additional 157 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 288 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 156 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Equity Residential in the fourth quarter valued at about $51,000. Institutional investors own 92.68% of the company's stock.

Wall Street Analyst Weigh In

EQR has been the topic of a number of recent research reports. Mizuho dropped their target price on Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Truist Financial raised their price target on shares of Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Wedbush reiterated a "neutral" rating and issued a $75.00 price objective on shares of Equity Residential in a report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on shares of Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Barclays raised their target price on shares of Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $79.25.

Equity Residential Trading Down 0.9%

Shares of NYSE:EQR traded down $0.60 during midday trading on Wednesday, hitting $66.66. 1,706,854 shares of the stock were exchanged, compared to its average volume of 1,895,712. The business's 50-day moving average price is $69.26 and its 200 day moving average price is $69.72. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 3.94 and a beta of 0.88.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. The firm had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. Analysts predict that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, June 24th. Equity Residential's payout ratio is presently 105.73%.

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.