Amalgamated Bank Has $8.40 Million Stake in Equity Residential (NYSE:EQR)

Amalgamated Bank trimmed its holdings in shares of Equity Residential (NYSE:EQRGet Rating) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Equity Residential in the 1st quarter valued at $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Equity Residential in the 1st quarter valued at $40,000. MCF Advisors LLC acquired a new stake in shares of Equity Residential during the first quarter worth $48,000. CVA Family Office LLC grew its stake in shares of Equity Residential by 34.9% during the first quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 145 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Equity Residential by 22.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 179 shares during the period. 83.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of analyst reports. UBS Group lifted their price objective on Equity Residential from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. 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 research note on Friday, June 24th. Mizuho decreased their price objective on Equity Residential from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Monday, June 27th. The Goldman Sachs Group lifted their target price on Equity Residential from $78.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. Finally, Evercore ISI set a $86.00 target price on Equity Residential in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential has an average rating of “Hold” and a consensus target price of $84.94.

Equity Residential Stock Performance

EQR opened at $73.11 on Friday. Equity Residential has a 52-week low of $67.48 and a 52-week high of $94.32. The firm has a market capitalization of $27.50 billion, a PE ratio of 21.96, a PEG ratio of 3.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.24 and a current ratio of 0.24. The business’s 50-day simple moving average is $75.29 and its 200 day simple moving average is $79.09.

Equity Residential Dividend Announcement

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

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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