Amalgamated Bank Boosts Stake in Equity Residential (NYSE:EQR)

Amalgamated Bank boosted its stake in shares of Equity Residential (NYSE:EQRFree Report) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 89,661 shares of the real estate investment trust’s stock after purchasing an additional 901 shares during the period. Amalgamated Bank’s holdings in Equity Residential were worth $5,264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Roger Wittlin Investment Advisory LLC raised its position in shares of Equity Residential by 2.1% during the 2nd quarter. Roger Wittlin Investment Advisory LLC now owns 7,544 shares of the real estate investment trust’s stock worth $498,000 after purchasing an additional 158 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Equity Residential by 1.2% during the second quarter. Cibc World Market Inc. now owns 13,757 shares of the real estate investment trust’s stock valued at $908,000 after acquiring an additional 161 shares during the last quarter. CWM LLC lifted its position in shares of Equity Residential by 5.9% in the second quarter. CWM LLC now owns 3,114 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 174 shares in the last quarter. Veritable L.P. lifted its position in shares of Equity Residential by 5.0% in the second quarter. Veritable L.P. now owns 3,851 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 184 shares in the last quarter. Finally, Rye Brook Capital LLC boosted its stake in Equity Residential by 0.4% during the 3rd quarter. Rye Brook Capital LLC now owns 48,650 shares of the real estate investment trust’s stock worth $2,856,000 after purchasing an additional 200 shares during the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Stock Up 1.1 %

Shares of NYSE EQR opened at $59.18 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $60.25 and its two-hundred day moving average is $60.45. Equity Residential has a 52-week low of $52.57 and a 52-week high of $69.45. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.11 and a beta of 0.84.

Equity Residential (NYSE:EQRGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm had revenue of $727.50 million during the quarter, compared to analyst estimates of $725.07 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Equity Residential will post 3.85 EPS for the current year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $0.6625 dividend. This represents a $2.65 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, December 29th. Equity Residential’s payout ratio is 120.45%.

Insider Buying and Selling at Equity Residential

In related news, Chairman David J. Neithercut sold 25,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $54.25, for a total transaction of $1,356,250.00. Following the completion of the transaction, the chairman now directly owns 3,392 shares of the company’s stock, valued at approximately $184,016. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman David J. Neithercut sold 25,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $54.25, for a total value of $1,356,250.00. Following the completion of the sale, the chairman now directly owns 3,392 shares of the company’s stock, valued at approximately $184,016. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the sale, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders sold 51,688 shares of company stock valued at $2,911,068 in the last 90 days. Company insiders own 1.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EQR shares. Stifel Nicolaus dropped their price target on Equity Residential from $60.00 to $59.50 and set a “hold” rating for the company in a research report on Friday, November 17th. Royal Bank of Canada raised their target price on Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Mizuho boosted their price target on shares of Equity Residential from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity Residential in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Piper Sandler decreased their target price on shares of Equity Residential from $71.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.18.

Read Our Latest Report on Equity Residential

Equity Residential Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQRFree Report).

Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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