Equity Residential (NYSE:EQR) Holdings Raised by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its stake in Equity Residential (NYSE:EQRGet Rating) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 46,657 shares of the real estate investment trust’s stock after acquiring an additional 1,050 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equity Residential were worth $3,370,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in EQR. Bank of America Corp DE lifted its position in Equity Residential by 18.8% in the first quarter. Bank of America Corp DE now owns 13,792,116 shares of the real estate investment trust’s stock worth $1,240,187,000 after purchasing an additional 2,181,925 shares during the period. Blackstone Inc. raised its stake in shares of Equity Residential by 323.0% in the 1st quarter. Blackstone Inc. now owns 2,825,468 shares of the real estate investment trust’s stock worth $254,066,000 after buying an additional 2,157,468 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equity Residential by 369.7% in the second quarter. Principal Financial Group Inc. now owns 2,025,015 shares of the real estate investment trust’s stock valued at $146,246,000 after buying an additional 1,593,884 shares during the period. Vanguard Group Inc. boosted 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 valued at $5,188,147,000 after buying an additional 1,408,032 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Equity Residential by 34.9% during the first quarter. Invesco Ltd. now owns 3,647,722 shares of the real estate investment trust’s stock worth $328,002,000 after acquiring an additional 943,870 shares during the period. 83.92% of the stock is owned by institutional investors and hedge funds.

Equity Residential Price Performance

EQR opened at $62.93 on Monday. The stock has a fifty day moving average price of $65.29 and a 200 day moving average price of $71.24. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.67. Equity Residential has a 1 year low of $59.32 and a 1 year high of $94.32. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.62 and a beta of 0.77.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, September 26th were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, September 23rd. This represents a $2.50 annualized dividend and a dividend yield of 3.97%. Equity Residential’s payout ratio is 82.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets downgraded shares of Equity Residential from an “outperform” rating to a “market perform” rating and cut their price target for the company from $88.00 to $74.00 in a report on Thursday, October 6th. Stifel Nicolaus cut their target price on shares of Equity Residential from $84.00 to $75.00 in a research note on Friday, October 7th. Piper Sandler reduced their target price on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating for the company in a report on Friday, October 7th. UBS Group upped their price target on Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Equity Residential from $85.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average target price of $78.00.

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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