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 shares of Equity Residential (NYSE:EQR) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,234 shares of the real estate investment trust’s stock after selling 2,026 shares during the period. Mutual of America Capital Management LLC’s holdings in Equity Residential were worth $2,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Equity Residential by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock valued at $3,369,707,000 after purchasing an additional 372,181 shares during the last quarter. Norges Bank bought a new position in Equity Residential during the 4th quarter valued at approximately $1,822,309,000. State Street Corp raised its position in Equity Residential by 5.4% during the 1st quarter. State Street Corp now owns 24,983,779 shares of the real estate investment trust’s stock valued at $1,515,182,000 after purchasing an additional 1,269,082 shares during the last quarter. Macquarie Group Ltd. raised its position in Equity Residential by 7.7% during the 1st quarter. Macquarie Group Ltd. now owns 7,912,891 shares of the real estate investment trust’s stock valued at $474,727,000 after purchasing an additional 566,203 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Equity Residential by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 7,839,640 shares of the real estate investment trust’s stock valued at $469,403,000 after purchasing an additional 176,762 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on EQR. Barclays lowered their price target on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Morgan Stanley increased their target price on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Piper Sandler reissued a “neutral” rating and issued a $62.00 target price on shares of Equity Residential in a research report on Tuesday, March 26th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Equity Residential in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential has a consensus rating of “Hold” and an average target price of $65.32.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, 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 transaction of $97,405.77. Following the sale, the chief operating officer now directly owns 31,053 shares in the company, valued at approximately $1,845,479.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Robert Garechana sold 876 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, 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 document filed with the SEC, which is accessible through this link. Also, COO Michael L. Manelis sold 1,639 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 31,053 shares in the company, valued at $1,845,479.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,280 shares of company stock worth $192,335. Insiders own 1.69% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR opened at $60.99 on Friday. The business’s fifty day simple moving average is $61.46 and its two-hundred day simple moving average is $59.63. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.66. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.45. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 3.46 and a beta of 0.84.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The business had revenue of $727.50 million for the quarter, compared to analysts’ expectations of $725.07 million. During the same quarter in the prior year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts anticipate that Equity Residential will post 3.86 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 4.43%. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Equity Residential Company Profile

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.