Amalgamated Bank Sells 2,137 Shares of Equity Residential (NYSE:EQR)

Amalgamated Bank reduced its position in shares of Equity Residential (NYSE:EQR) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,524 shares of the real estate investment trust’s stock after selling 2,137 shares during the quarter. Amalgamated Bank’s holdings in Equity Residential were worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. lifted its holdings in Equity Residential by 593.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 392 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Equity Residential during the fourth quarter worth $28,000. Allworth Financial LP increased its holdings in Equity Residential by 120.8% in the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. AdvisorNet Financial Inc acquired a new position in Equity Residential in the fourth quarter valued at about $34,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new position in Equity Residential during the third quarter worth about $40,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Stock Up 1.3 %

Equity Residential stock opened at $66.75 on Tuesday. The company’s 50-day moving average is $62.61 and its 200-day moving average is $60.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $25.33 billion, a PE ratio of 27.70, a P/E/G ratio of 3.49 and a beta of 0.82. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The firm had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $728.09 million. During the same period in the prior year, the firm earned $0.87 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Equity Residential will post 3.87 earnings per share for the current year.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a dividend of $0.675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 annualized dividend and a yield of 4.04%. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Analyst Upgrades and Downgrades

EQR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Equity Residential in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price target on shares of Equity Residential in a report on Thursday, February 22nd. Morgan Stanley raised their price objective on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Barclays reduced their target price on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Finally, Mizuho lowered their price target on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.04.

Insider Transactions at Equity Residential

In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the completion of the sale, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total value of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares of the company’s stock, valued at $636,465.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,860 shares of company stock valued at $566,034. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Company 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.