Securian Asset Management Inc. Buys 479 Shares of Equity Residential (NYSE:EQR)

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. lifted its stake in Equity Residential (NYSE:EQR – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,961 shares of the real estate investment trust’s stock after buying an additional 479 shares during the period. Securian Asset Management Inc.’s holdings in Equity Residential were worth $1,650,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EQR. Laurel Wealth Advisors Inc. lifted its stake in Equity Residential by 3.5% during the third quarter. Laurel Wealth Advisors Inc. now owns 5,961 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 200 shares during the period. Lazard Asset Management LLC lifted its stake in Equity Residential by 155.5% during the third quarter. Lazard Asset Management LLC now owns 5,061 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 3,080 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its stake in Equity Residential by 10.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 6,237 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 613 shares during the period. Avantax Advisory Services Inc. lifted its stake in Equity Residential by 23.0% during the third quarter. Avantax Advisory Services Inc. now owns 3,505 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 656 shares during the period. Finally, Hanson & Doremus Investment Management lifted its stake in Equity Residential by 18.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 4,237 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 648 shares during the period. Institutional investors own 82.62% of the company’s stock.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of research analyst reports. Truist Financial lifted their target price on shares of Equity Residential from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, March 10th. Morgan Stanley lifted their target price on shares of Equity Residential from $67.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 1st. BTIG Research lowered shares of Equity Residential from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th. Wells Fargo & Company began coverage on shares of Equity Residential in a report on Wednesday, March 29th. They issued an “equal weight” rating and a $62.00 price target for the company. Finally, StockNews.com began coverage on shares of Equity Residential in a report on Thursday, March 16th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus target price of $71.44.

Equity Residential Price Performance

Shares of EQR stock opened at $61.30 on Monday. Equity Residential has a 12-month low of $54.60 and a 12-month high of $93.14. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 3.12 and a beta of 0.81. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $60.85 and a 200-day moving average of $61.69.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, March 27th were issued a $0.6625 dividend. This is a positive change from Equity Residential’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, March 24th. This represents a $2.65 annualized dividend and a dividend yield of 4.32%. Equity Residential’s payout ratio is 128.64%.

About Equity Residential

(Get Rating)

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.