Bank of New York Mellon Corp Decreases Holdings in Equity Residential $EQR

Bank of New York Mellon Corp trimmed its holdings in Equity Residential (NYSE:EQR) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,197,512 shares of the real estate investment trust’s stock after selling 55,753 shares during the period. Bank of New York Mellon Corp owned 0.58% of Equity Residential worth $142,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EQR. CVA Family Office LLC boosted its holdings in shares of Equity Residential by 425.3% in the 2nd quarter. CVA Family Office LLC now owns 415 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 336 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Equity Residential by 1,000.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 660 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 600 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Equity Residential in the 2nd quarter worth approximately $61,000. MUFG Securities EMEA plc acquired a new position in shares of Equity Residential in the 2nd quarter valued at about $68,000. Finally, Trust Co. of Toledo NA OH acquired a new position in Equity Residential during the 2nd quarter valued at approximately $83,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Up 0.7%

NYSE:EQR opened at $62.32 on Friday. The business’s 50-day moving average price is $61.66 and its two-hundred day moving average price is $62.86. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 4.21 and a beta of 0.75. Equity Residential has a 1-year low of $58.38 and a 1-year high of $75.86.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.6925 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.77 dividend on an annualized basis and a yield of 4.4%. Equity Residential’s dividend payout ratio (DPR) is 91.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Equity Residential from $68.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Residential in a research report on Thursday, January 22nd. Evercore ISI cut their price objective on shares of Equity Residential from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Barclays restated an “overweight” rating and issued a $78.00 price objective on shares of Equity Residential in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada cut their target price on shares of Equity Residential from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Equity Residential presently has an average rating of “Hold” and a consensus price target of $70.01.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.