Mizuho Securities USA LLC Buys 10,235 Shares of Equity Residential (NYSE:EQR)

Mizuho Securities USA LLC raised its stake in shares of Equity Residential (NYSE:EQR) by 46.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,359 shares of the real estate investment trust’s stock after buying an additional 10,235 shares during the period. Mizuho Securities USA LLC’s holdings in Equity Residential were worth $2,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the 3rd quarter valued at about $29,000. Brooklyn Investment Group bought a new position in shares of Equity Residential in the 3rd quarter worth approximately $33,000. Continuum Advisory LLC purchased a new position in shares of Equity Residential in the third quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC grew its position in Equity Residential by 38.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 156 shares during the period. 92.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQR. Barclays dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Mizuho cut their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Scotiabank raised their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Wells Fargo & Company cut their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a research note on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.51.

Insider Buying and Selling

In other news, CFO Robert Garechana sold 4,294 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the sale, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. This trade represents a 2.45 % 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.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $71.40 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84. The stock has a 50 day moving average of $70.83 and a 200 day moving average of $72.59. The firm has a market cap of $27.11 billion, a PE ratio of 26.25, a PEG ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

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

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.