Dai ichi Life Insurance Company Ltd Has $2.19 Million Stake in Equity Residential (NYSE:EQR)

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Equity Residential (NYSE:EQR) by 29.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,438 shares of the real estate investment trust’s stock after selling 12,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Equity Residential were worth $2,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in Equity Residential in the 1st quarter worth $1,644,000. PGGM Investments lifted its position in shares of Equity Residential by 148.2% during the 1st quarter. PGGM Investments now owns 6,879 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 4,108 shares during the last quarter. Cetera Investment Advisers bought a new stake in Equity Residential during the 1st quarter valued at approximately $2,841,000. Cetera Advisors LLC grew its holdings in Equity Residential by 3.7% in the 1st quarter. Cetera Advisors LLC now owns 33,184 shares of the real estate investment trust’s stock valued at $2,094,000 after buying an additional 1,169 shares during the last quarter. Finally, Boston Partners increased its position in Equity Residential by 4.3% in the 1st quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock worth $171,368,000 after buying an additional 112,270 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EQR shares. Royal Bank of Canada reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Piper Sandler increased their price target on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Stock Up 0.5 %

Shares of EQR opened at $77.47 on Thursday. The business’s 50 day simple moving average is $74.09 and its 200-day simple moving average is $71.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a one year low of $56.05 and a one year high of $78.83. The company has a market capitalization of $29.39 billion, a P/E ratio of 31.75, a PEG ratio of 6.20 and a beta of 0.90.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.49%. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

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.