Equity Residential (NYSE:EQR) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Equity Residential (NYSE:EQR – Get Rating) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,849 shares of the real estate investment trust’s stock after purchasing an additional 3,054 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Residential were worth $5,065,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors Inc. boosted its position in shares of Equity Residential by 3.5% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 5,961 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 200 shares in the last quarter. Lazard Asset Management LLC lifted its position in Equity Residential by 155.5% during the 3rd quarter. Lazard Asset Management LLC now owns 5,061 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 3,080 shares during the period. Avantax Advisory Services Inc. grew its stake in Equity Residential by 23.0% during the 3rd quarter. Avantax Advisory Services Inc. now owns 3,505 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 656 shares during the last quarter. Texas Permanent School Fund grew its stake in Equity Residential by 0.9% during the 4th quarter. Texas Permanent School Fund now owns 48,325 shares of the real estate investment trust’s stock valued at $2,851,000 after purchasing an additional 429 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its stake in Equity Residential by 18.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 4,237 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 648 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EQR shares. Truist Financial boosted their price target on Equity Residential from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, March 10th. StockNews.com started coverage on Equity Residential in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho dropped their price target on Equity Residential from $72.00 to $68.00 in a research note on Friday, May 19th. Piper Sandler boosted their price objective on Equity Residential from $59.00 to $63.00 in a report on Monday, May 1st. Finally, Citigroup boosted their price objective on Equity Residential from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.18.

Insider Activity

In related news, Director Mark S. Shapiro sold 42,435 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $61.91, for a total value of $2,627,150.85. Following the completion of the transaction, the director now directly owns 12,497 shares in the company, valued at $773,689.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.69% of the company’s stock.

Equity Residential Price Performance

EQR stock opened at $60.93 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $60.40 and a 200-day simple moving average of $61.51. The firm has a market capitalization of $23.09 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 3.34 and a beta of 0.81. Equity Residential has a 1 year low of $54.60 and a 1 year high of $80.89.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, March 27th were given a $0.6625 dividend. The ex-dividend date was Friday, March 24th. This is a positive change from Equity Residential’s previous quarterly dividend of $0.63. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.35%. Equity Residential’s dividend payout ratio is 109.05%.

Equity Residential Profile

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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.