Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Equity Residential (NYSE:EQR)

Mirae Asset Global Investments Co. Ltd. increased its position in Equity Residential (NYSE:EQR) by 36.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,327 shares of the real estate investment trust’s stock after purchasing an additional 12,631 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Residential were worth $3,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in Equity Residential by 36.6% in the first quarter. BNP Paribas Financial Markets now owns 569,829 shares of the real estate investment trust’s stock worth $35,962,000 after purchasing an additional 152,736 shares during the period. QRG Capital Management Inc. grew its stake in shares of Equity Residential by 200.9% in the first quarter. QRG Capital Management Inc. now owns 77,019 shares of the real estate investment trust’s stock worth $4,861,000 after acquiring an additional 51,423 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Equity Residential by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after acquiring an additional 381,236 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Equity Residential in the second quarter worth $3,893,000. Finally, Entropy Technologies LP purchased a new stake in shares of Equity Residential in the first quarter worth $1,672,000. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Stock Down 1.0 %

EQR stock opened at $74.27 on Wednesday. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The business’s 50-day moving average is $74.79 and its two-hundred day moving average is $69.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market cap of $28.19 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 6.17 and a beta of 0.89.

Equity Residential (NYSE:EQR) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $735.26 million. During the same period in the prior year, the company posted $0.94 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Analyst Ratings Changes

EQR has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI increased their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Truist Financial increased their price objective on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Wedbush increased their price objective on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently 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.