Daiwa Securities Group Inc. Trims Stock Holdings in Equity Residential (NYSE:EQR)

Daiwa Securities Group Inc. lowered its stake in shares of Equity Residential (NYSE:EQR) by 32.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,535 shares of the real estate investment trust’s stock after selling 75,954 shares during the period. Daiwa Securities Group Inc.’s holdings in Equity Residential were worth $11,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tobam raised its holdings in Equity Residential by 8.6% in the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 152 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Equity Residential by 4.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 153 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 155 shares in the last quarter. UMB Bank n.a. boosted its position in Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Equity Residential by 32.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 1.0 %

NYSE:EQR opened at $75.79 on Monday. Equity Residential has a 52 week low of $56.05 and a 52 week high of $78.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a market cap of $28.76 billion, a PE ratio of 31.06, a P/E/G ratio of 6.15 and a beta of 0.90. The business’s 50 day moving average is $74.12 and its two-hundred day moving average is $71.10.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Analyst Ratings Changes

EQR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and upped their price target for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. BNP Paribas began coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective on the stock. Wedbush upped their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average price target of $77.25.

About Equity Residential

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.