Daiwa Securities Group Inc. Sells 3,791 Shares of Equity Residential (NYSE:EQR)

Daiwa Securities Group Inc. decreased its position in Equity Residential (NYSE:EQR) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,783 shares of the real estate investment trust’s stock after selling 3,791 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Equity Residential were worth $8,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Equity Residential in the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Equity Residential by 593.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 392 shares during the period. Allworth Financial LP boosted its holdings in shares of Equity Residential by 120.8% in the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 267 shares during the period. Money Concepts Capital Corp purchased a new position in shares of Equity Residential in the 4th quarter worth approximately $29,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Equity Residential by 229.8% in the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 386 shares during the period. Institutional investors own 92.68% of the company’s stock.

Insider Activity

In related news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares in the company, valued at $1,209,927.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equity Residential news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares in the company, valued at $1,209,927.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the transaction, the chief operating officer now owns 31,053 shares in the company, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders sold 3,280 shares of company stock worth $192,335 over the last ninety days. Corporate insiders own 1.69% of the company’s stock.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $60.99 on Friday. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45. The business has a 50-day moving average price of $61.46 and a 200 day moving average price of $59.63. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $23.11 billion, a PE ratio of 27.72, a P/E/G ratio of 3.50 and a beta of 0.84.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.18). Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The firm had revenue of $727.50 million for the quarter, compared to analysts’ expectations of $725.07 million. During the same quarter last year, the firm posted $0.94 earnings per share. Equity Residential’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Equity Residential will post 3.86 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a $0.675 dividend. The ex-dividend date was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.43%. Equity Residential’s dividend payout ratio is 122.73%.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Piper Sandler reiterated a “neutral” rating and issued a $62.00 target price on shares of Equity Residential in a report on Tuesday, March 26th. Royal Bank of Canada upped their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Truist Financial lowered their target price on Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, Mizuho cut their price objective on shares of Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.32.

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.