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

Mirae Asset Global Investments Co. Ltd. grew its stake in Equity Residential (NYSE:EQRGet Rating) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,560 shares of the real estate investment trust’s stock after purchasing an additional 3,593 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Residential were worth $12,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQR. Riverview Trust Co purchased a new position in shares of Equity Residential in the first quarter worth about $32,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Equity Residential in the first quarter worth about $40,000. MCF Advisors LLC purchased a new position in shares of Equity Residential in the first quarter worth about $48,000. CVA Family Office LLC lifted its stake in shares of Equity Residential by 34.9% in the first quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 145 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Equity Residential by 22.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 179 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Trading Down 1.1 %

Shares of EQR stock opened at $72.29 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market capitalization of $27.19 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 3.11 and a beta of 0.82. The company has a 50 day moving average price of $75.29 and a 200 day moving average price of $78.99. Equity Residential has a fifty-two week low of $67.48 and a fifty-two week high of $94.32.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, September 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, September 23rd. Equity Residential’s dividend payout ratio (DPR) is currently 75.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EQR. Credit Suisse Group began coverage on shares of Equity Residential in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $80.00 price target on the stock. Mizuho reduced their target price on shares of Equity Residential from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Equity Residential from $78.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Jefferies Financial Group reduced their target price on shares of Equity Residential from $78.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Finally, Piper Sandler downgraded shares of Equity Residential from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $78.00 to $70.00 in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.53.

Equity Residential Company Profile

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

See Also

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

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