Sumitomo Mitsui DS Asset Management Company Ltd Purchases 6,651 Shares of Equity Residential (NYSE:EQR)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Equity Residential (NYSE:EQR) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 112,932 shares of the real estate investment trust’s stock after acquiring an additional 6,651 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equity Residential were worth $8,104,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vert Asset Management LLC lifted its position in shares of Equity Residential by 7.5% in the fourth quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock worth $10,782,000 after purchasing an additional 10,472 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Equity Residential during the 3rd quarter worth about $923,000. Atomi Financial Group Inc. boosted its stake in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 284 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock valued at $9,625,000 after acquiring an additional 14,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Equity Residential by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock valued at $298,461,000 after acquiring an additional 124,795 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $71.36 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $27.08 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 4.35 and a beta of 0.93. The stock’s fifty day moving average price is $71.02 and its two-hundred day moving average price is $72.70. Equity Residential has a one year low of $57.33 and a one year high of $78.83.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were paid a $0.675 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.78%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Insider Buying and Selling

In other news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the sale, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EQR. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Scotiabank dropped their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Barclays decreased their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $78.36.

Equity Residential 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.