Tokio Marine Asset Management Co. Ltd. Reduces Position in Equity Residential (NYSE:EQR)

Tokio Marine Asset Management Co. Ltd. decreased its holdings in Equity Residential (NYSE:EQRFree Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,706 shares of the real estate investment trust’s stock after selling 320 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Equity Residential were worth $549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its holdings in shares of Equity Residential by 593.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Equity Residential during the 4th quarter valued at $28,000. Allworth Financial LP lifted its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 267 shares during the period. Voisard Asset Management Group Inc. purchased a new position in shares of Equity Residential in the 4th quarter worth $33,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of Equity Residential in the fourth quarter worth $34,000. Institutional investors own 92.68% of the company’s stock.

Insider Activity

In other news, CFO Robert Garechana sold 6,357 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the transaction, the director now owns 9,720 shares of the company’s stock, valued at $636,465.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the transaction, the chief financial officer now directly owns 14,576 shares in the company, valued at approximately $1,006,910.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,625 shares of company stock valued at $913,158. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EQR. Wedbush reissued a “neutral” rating and issued a $68.00 target price on shares of Equity Residential in a research report on Monday, April 29th. UBS Group boosted their price target on Equity Residential from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. lifted their price objective on Equity Residential from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Mizuho increased their target price on shares of Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Piper Sandler raised shares of Equity Residential from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $80.00 in a report on Friday, June 28th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.09.

Read Our Latest Analysis on Equity Residential

Equity Residential Stock Performance

NYSE:EQR opened at $68.00 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 3.90 and a beta of 0.87. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.65. The stock’s 50 day simple moving average is $66.53 and its two-hundred day simple moving average is $63.11.

Equity Residential (NYSE:EQRGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The company had revenue of $730.80 million for the quarter, compared to the consensus estimate of $728.09 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Equity Residential’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Equity Residential will post 3.88 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, July 1st. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

About Equity Residential

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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