Sumitomo Mitsui Trust Holdings Inc. Has $116.25 Million Stock Position in Equity Residential (NYSE:EQR)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Equity Residential (NYSE:EQR) by 39.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,676,445 shares of the real estate investment trust’s stock after buying an additional 475,124 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.44% of Equity Residential worth $116,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Equity Residential during the 4th quarter valued at $2,143,388,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Equity Residential by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after purchasing an additional 381,236 shares during the period. APG Asset Management US Inc. raised its holdings in shares of Equity Residential by 0.6% during the fourth quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock valued at $709,349,000 after purchasing an additional 71,716 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Equity Residential by 5.9% during the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock worth $570,333,000 after purchasing an additional 516,941 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in shares of Equity Residential by 5.9% in the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after buying an additional 309,796 shares during the period. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Trading Up 0.2 %

NYSE:EQR opened at $71.41 on Monday. Equity Residential has a 52 week low of $52.57 and a 52 week high of $72.32. The firm has a 50-day moving average price of $68.98 and a two-hundred day moving average price of $65.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.21. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 4.06 and a beta of 0.87.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS 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 business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Equity Residential will post 3.88 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, July 1st. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group upped their price target on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company increased their target price on Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $68.00 to $70.00 in a research note on Monday, April 22nd. Evercore ISI lowered shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price objective on the stock. in a research note on Monday, May 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.91.

Insider Activity at Equity Residential

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction dated 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 accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

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.