Equity Residential (NYSE:EQR) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in shares of Equity Residential (NYSE:EQR) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 43,495 shares of the real estate investment trust’s stock after selling 1,761 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equity Residential were worth $3,016,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQR. Checchi Capital Advisers LLC grew its holdings in Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 153 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares in the last quarter. Mystic Asset Management Inc. increased its holdings in shares of Equity Residential by 3.8% in the first quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Equity Residential by 12.4% during the 2nd quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 201 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Equity Residential by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,864 shares of the real estate investment trust’s stock worth $815,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

NYSE EQR opened at $77.44 on Tuesday. Equity Residential has a 1 year low of $52.57 and a 1 year high of $78.83. The company has a fifty day simple moving average of $72.91 and a 200 day simple moving average of $67.79. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The company has a market cap of $29.39 billion, a P/E ratio of 32.13, a P/E/G ratio of 4.27 and a beta of 0.89.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.49%. The ex-dividend date is Tuesday, September 24th. Equity Residential’s payout ratio is currently 112.03%.

Wall Street Analyst Weigh In

EQR has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Piper Sandler raised their target price on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their price target on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and an average price target of $75.62.

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.