Amalgamated Bank Decreases Holdings in Equity Residential (NYSE:EQR)

Amalgamated Bank reduced its position in Equity Residential (NYSE:EQR) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,961 shares of the real estate investment trust’s stock after selling 2,912 shares during the quarter. Amalgamated Bank’s holdings in Equity Residential were worth $5,135,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EQR. Sentry Investment Management LLC acquired a new stake in shares of Equity Residential in the 3rd quarter worth $118,000. FSM Wealth Advisors LLC purchased a new stake in Equity Residential in the third quarter valued at about $226,000. QRG Capital Management Inc. boosted its holdings in Equity Residential by 13.0% in the third quarter. QRG Capital Management Inc. now owns 110,424 shares of the real estate investment trust’s stock worth $8,222,000 after acquiring an additional 12,661 shares in the last quarter. National Pension Service grew its stake in shares of Equity Residential by 10.2% during the third quarter. National Pension Service now owns 554,178 shares of the real estate investment trust’s stock worth $41,264,000 after acquiring an additional 51,501 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of Equity Residential during the third quarter worth about $73,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Up 0.5 %

Shares of Equity Residential stock opened at $71.76 on Friday. Equity Residential has a fifty-two week low of $53.48 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.21 and a current ratio of 0.13. The company has a market cap of $27.21 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 5.87 and a beta of 0.90. The firm has a 50-day simple moving average of $74.56 and a two-hundred day simple moving average of $70.31.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.76%. Equity Residential’s dividend payout ratio is currently 110.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EQR shares. UBS Group lifted their target price on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. 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 note on Monday, September 16th. The Goldman Sachs Group initiated coverage on Equity Residential in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price on the stock. Scotiabank lifted their price target on Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Finally, Truist Financial boosted their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.19.

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.