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

Mirae Asset Global Investments Co. Ltd. raised its stake in Equity Residential (NYSE:EQRFree Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,753 shares of the real estate investment trust’s stock after acquiring an additional 7,790 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Residential were worth $6,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC acquired a new position in Equity Residential in the fourth quarter valued at $28,000. Allworth Financial LP increased its stake in Equity Residential by 120.8% in the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in Equity Residential in the fourth quarter valued at $33,000. AdvisorNet Financial Inc acquired a new position in Equity Residential in the fourth quarter valued at $34,000. Finally, Lindbrook Capital LLC increased its stake in Equity Residential by 144.4% in the fourth quarter. Lindbrook Capital LLC now owns 716 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 423 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Down 0.1 %

Shares of EQR opened at $67.95 on Wednesday. The company has a market capitalization of $25.79 billion, a P/E ratio of 28.20, a P/E/G ratio of 3.90 and a beta of 0.87. Equity Residential has a one year low of $52.57 and a one year high of $69.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a 50-day moving average price of $66.65 and a 200 day moving average price of $63.21.

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

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on EQR. Truist Financial upped their target price on Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley upped their price target on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. upped their price target on Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Wells Fargo & Company upped their price target on Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Mizuho upped their price target on Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Eleven equities research 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.com, the company has a consensus rating of “Hold” and a consensus target price of $69.09.

Get Our Latest Report on Equity Residential

Insiders Place Their Bets

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

Equity Residential Profile

(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.

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

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