Mitsubishi UFJ Asset Management Co. Ltd. Purchases 67,998 Shares of Equity Residential (NYSE:EQR)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Equity Residential (NYSE:EQR) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 762,032 shares of the real estate investment trust’s stock after purchasing an additional 67,998 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Equity Residential were worth $54,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. boosted its holdings in Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the third quarter worth $29,000. Brooklyn Investment Group bought a new position in shares of Equity Residential in the third quarter worth $33,000. Continuum Advisory LLC purchased a new position in shares of Equity Residential in the third quarter valued at $40,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 288 shares during the period. Institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.2 %

Shares of EQR stock opened at $71.38 on Friday. The business has a 50-day moving average of $70.95 and a 200 day moving average of $72.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. The stock has a market capitalization of $27.10 billion, a PE ratio of 26.24, a P/E/G ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, March 31st. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. Equity Residential’s dividend payout ratio is 101.84%.

Insider Transactions at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the transaction, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,763 shares of company stock worth $1,424,217. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus set a $82.25 target price on Equity Residential in a report on Tuesday, February 4th. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Scotiabank raised their price target on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Mizuho decreased their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Barclays reduced their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and an average price target of $78.51.

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.