Tokio Marine Asset Management Co. Ltd. Purchases 475 Shares of Equity Residential (NYSE:EQR)

Tokio Marine Asset Management Co. Ltd. boosted its position in Equity Residential (NYSE:EQR) by 5.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,026 shares of the real estate investment trust’s stock after buying an additional 475 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Equity Residential were worth $552,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Equity Residential by 0.7% during the third quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after acquiring an additional 372,181 shares during the period. Northern Trust Corp increased its position in shares of Equity Residential by 1.8% during the third quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust’s stock worth $320,386,000 after acquiring an additional 94,511 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Equity Residential by 13.8% during the third quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust’s stock worth $305,659,000 after acquiring an additional 629,813 shares during the period. FMR LLC increased its position in shares of Equity Residential by 68.5% during the third quarter. FMR LLC now owns 4,416,565 shares of the real estate investment trust’s stock worth $259,297,000 after acquiring an additional 1,795,772 shares during the period. Finally, Morgan Stanley increased its position in shares of Equity Residential by 5.2% during the third quarter. Morgan Stanley now owns 4,136,866 shares of the real estate investment trust’s stock worth $242,876,000 after acquiring an additional 203,470 shares during the period. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

NYSE:EQR opened at $65.14 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.30. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.78 and a beta of 0.84. The company’s 50-day moving average is $61.99 and its two-hundred day moving average is $59.84. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The firm had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. During the same period in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts forecast that Equity Residential will post 3.85 EPS for the current year.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 4.14%. The ex-dividend date was Friday, March 22nd. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $41,384.80. Following the completion of the transaction, the chief accounting officer now owns 23,949 shares in the company, valued at approximately $1,384,252.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $1,209,927.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ian Kaufman sold 716 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 $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares in the company, valued at $1,384,252.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock worth $192,335 in the last quarter. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EQR shares. BMO Capital Markets raised shares of Equity Residential from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $68.00 to $70.00 in a report on Monday, April 22nd. Truist Financial cut their price objective on shares of Equity Residential from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. 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 report on Wednesday, February 28th. Royal Bank of Canada lifted their price objective on shares of Equity Residential from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Morgan Stanley lifted their price target on shares of Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $66.04.

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.