Amalgamated Bank Sells 6,210 Shares of Equity Residential (NYSE:EQR)

Amalgamated Bank cut its holdings in shares of Equity Residential (NYSE:EQRGet Rating) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,405 shares of the real estate investment trust’s stock after selling 6,210 shares during the period. Amalgamated Bank’s holdings in Equity Residential were worth $8,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Equity Residential by 2.5% during the first quarter. Vanguard Group Inc. now owns 57,697,368 shares of the real estate investment trust’s stock worth $5,188,147,000 after purchasing an additional 1,408,032 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Equity Residential by 3.8% in the 4th quarter. BlackRock Inc. now owns 39,022,849 shares of the real estate investment trust’s stock valued at $3,531,569,000 after acquiring an additional 1,445,519 shares during the last quarter. Norges Bank bought a new position in shares of Equity Residential in the 4th quarter valued at $2,729,361,000. State Street Corp lifted its stake in shares of Equity Residential by 3.8% in the 1st quarter. State Street Corp now owns 24,174,326 shares of the real estate investment trust’s stock valued at $2,188,462,000 after acquiring an additional 889,805 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Equity Residential by 18.8% in the 1st quarter. Bank of America Corp DE now owns 13,792,116 shares of the real estate investment trust’s stock valued at $1,240,187,000 after acquiring an additional 2,181,925 shares during the last quarter. 83.92% of the stock is currently owned by institutional investors.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $73.11 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $75.29 and a two-hundred day moving average price of $79.09. Equity Residential has a 1-year low of $67.48 and a 1-year high of $94.32. The company has a market cap of $27.50 billion, a P/E ratio of 21.96, a PEG ratio of 3.10 and a beta of 0.82.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, September 26th will be paid a $0.625 dividend. The ex-dividend date is Friday, September 23rd. This represents a $2.50 annualized dividend and a dividend yield of 3.42%. Equity Residential’s dividend payout ratio is presently 75.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on EQR shares. Credit Suisse Group started coverage on Equity Residential in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $80.00 price target for the company. Royal Bank of Canada upgraded Equity Residential from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from $95.00 to $79.00 in a research note on Wednesday, June 22nd. Piper Sandler downgraded Equity Residential from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $78.00 to $70.00 in a report on Wednesday, July 20th. UBS Group increased their price objective on Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Truist Financial decreased their price objective on Equity Residential from $85.00 to $79.00 and set a “hold” rating for the company in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.94.

Equity Residential Profile

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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