Mutual of America Capital Management LLC Sells 2,026 Shares of Equity Residential (NYSE:EQR)

Mutual of America Capital Management LLC decreased its holdings in Equity Residential (NYSE:EQR) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,234 shares of the real estate investment trust’s stock after selling 2,026 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equity Residential were worth $2,828,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of EQR. Financial Gravity Asset Management Inc. raised its stake 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 worth $25,000 after buying an additional 392 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Equity Residential during the 4th quarter valued at $28,000. Money Concepts Capital Corp purchased a new stake in shares of Equity Residential during the 4th quarter valued at $29,000. Allworth Financial LP lifted its holdings in shares of Equity Residential by 120.8% during the 4th 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. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Equity Residential by 229.8% during the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 386 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $41,384.80. Following the sale, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Robert Garechana sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $50,632.80. Following the sale, the chief financial officer now directly owns 20,933 shares in the company, valued at approximately $1,209,927.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ian Kaufman sold 716 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the sale, the chief accounting officer now owns 23,949 shares in the company, valued at $1,384,252.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,280 shares of company stock valued at $192,335. Company insiders own 1.69% of the company’s stock.

Equity Residential Price Performance

Shares of EQR opened at $60.99 on Friday. The business’s 50-day moving average is $61.46 and its two-hundred day moving average is $59.63. The company has a market capitalization of $23.15 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.30 and a current ratio of 0.30. 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 announced its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.18). The company had revenue of $727.50 million for the quarter, compared to analyst estimates of $725.07 million. Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. Equity Residential’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. Research analysts predict that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The business also recently declared 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 an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Analyst Ratings Changes

Several analysts have recently commented on EQR shares. Barclays decreased their price objective on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price objective on shares of Equity Residential in a report on Thursday, February 22nd. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating in a report on Monday, March 18th. Piper Sandler reiterated a “neutral” rating and set a $62.00 price objective on shares of Equity Residential in a report on Tuesday, March 26th. Finally, Truist Financial cut their target price on Equity Residential from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average price target of $65.32.

About Equity Residential

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.