Mutual of America Capital Management LLC Boosts Position in Equity Residential (NYSE:EQR)

Mutual of America Capital Management LLC grew its holdings in shares of Equity Residential (NYSE:EQRGet Rating) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,657 shares of the real estate investment trust’s stock after buying 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 quarter.

Other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Equity Residential during the 1st quarter valued at $40,000. Allworth Financial LP raised its position in Equity Residential by 48.2% in the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 158 shares during the period. MCF Advisors LLC acquired a new position in shares of Equity Residential during the first quarter worth about $48,000. Venture Visionary Partners LLC purchased a new stake in shares of Equity Residential in the second quarter worth about $51,000. Finally, CX Institutional purchased a new stake in shares of Equity Residential during the 2nd quarter valued at about $55,000. 83.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQR has been the subject of several analyst reports. Piper Sandler decreased their target price on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating for the company in a research note on Friday, October 7th. Mizuho decreased their price objective on shares of Equity Residential from $77.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, November 10th. Evercore ISI dropped their target price on Equity Residential to $75.00 in a research report on Thursday, October 13th. Jefferies Financial Group cut their price target on Equity Residential from $72.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 19th. Finally, BMO Capital Markets lowered Equity Residential from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $88.00 to $74.00 in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Equity Residential has an average rating of “Hold” and an average target price of $78.00.

Equity Residential Trading Up 1.9 %

NYSE EQR opened at $62.93 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.20 and a current ratio of 0.20. Equity Residential has a one year low of $59.32 and a one year high of $94.32. The company has a 50-day simple moving average of $65.29 and a 200-day simple moving average of $71.24. The firm has a market capitalization of $23.78 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77.

Equity Residential Dividend Announcement

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

Equity Residential Company Profile

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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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