Mirae Asset Global Investments Co. Ltd. Sells 841 Shares of Equity Residential $EQR

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Equity Residential (NYSE:EQR) by 1.5% during the second quarter, HoldingsChannel.com reports. The fund owned 53,585 shares of the real estate investment trust’s stock after selling 841 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Residential were worth $3,616,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Park Avenue Securities LLC increased its stake in shares of Equity Residential by 25.0% in the first quarter. Park Avenue Securities LLC now owns 10,881 shares of the real estate investment trust’s stock worth $779,000 after acquiring an additional 2,175 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Equity Residential during the first quarter worth about $585,000. SG Americas Securities LLC lifted its stake in shares of Equity Residential by 44.3% in the 1st quarter. SG Americas Securities LLC now owns 20,699 shares of the real estate investment trust’s stock valued at $1,482,000 after purchasing an additional 6,359 shares during the last quarter. CX Institutional purchased a new position in shares of Equity Residential during the 1st quarter worth approximately $214,000. Finally, Fifth Third Bancorp grew its position in Equity Residential by 6.6% in the 1st quarter. Fifth Third Bancorp now owns 7,284 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $62.43 on Wednesday. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.32. The firm has a market capitalization of $23.84 billion, a PE ratio of 23.56, a PEG ratio of 3.19 and a beta of 0.90. The business’s 50 day moving average is $64.50 and its 200-day moving average is $67.04. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.75.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $768.83 million during the quarter, compared to analysts’ expectations of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. Equity Residential’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. Sell-side analysts predict that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be paid a $0.6925 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.77 annualized dividend and a dividend yield of 4.4%. Equity Residential’s dividend payout ratio (DPR) is currently 104.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQR. Scotiabank lowered their target price on shares of Equity Residential from $78.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Friday, September 26th. JPMorgan Chase & Co. decreased their price target on Equity Residential from $76.00 to $75.00 in a research note on Tuesday, September 16th. Stifel Nicolaus set a $80.50 price objective on shares of Equity Residential and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Evercore ISI raised their price objective on Equity Residential from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.32.

About Equity Residential

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.