Equity Residential (NYSE:EQR) Stock Holdings Cut by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. cut its position in shares of Equity Residential (NYSE:EQR) by 21.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 638 shares of the real estate investment trust’s stock after selling 179 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Equity Residential were worth $48,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Maryland Capital Advisors Inc. bought a new stake in Equity Residential in the third quarter worth about $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential in the 1st quarter worth approximately $27,000. UMB Bank n.a. lifted its stake in Equity Residential by 69.6% during 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. Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $75.87 on Thursday. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 6.05 and a beta of 0.89. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $74.52 and a 200 day simple moving average of $69.55.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler increased their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. BNP Paribas assumed coverage on Equity Residential in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Wedbush boosted their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Scotiabank raised their target price on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.97.

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.