Bamco Inc. NY Reduces Stock Position in Equity Residential (NYSE:EQR)

Bamco Inc. NY trimmed its holdings in Equity Residential (NYSE:EQR - Free Report) by 51.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688,198 shares of the real estate investment trust's stock after selling 728,559 shares during the quarter. Bamco Inc. NY owned about 0.18% of Equity Residential worth $51,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Maryland Capital Advisors Inc. purchased a new position in Equity Residential during the third quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Equity Residential in the 3rd quarter worth $33,000. Assetmark Inc. raised its holdings in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 430 shares during the period. UMB Bank n.a. boosted its position in shares of Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 195 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 155 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

Equity Residential stock traded down $1.22 during trading hours on Tuesday, hitting $74.02. The stock had a trading volume of 1,479,000 shares, compared to its average volume of 1,832,255. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The stock has a market capitalization of $28.09 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 6.10 and a beta of 0.92. The stock's fifty day moving average is $74.03 and its two-hundred day moving average is $71.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13.

Equity Residential Dividend Announcement

The firm also recently announced 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. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's payout ratio is currently 110.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and raised their price target for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Royal Bank of Canada reduced their target price on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a "hold" rating to a "buy" rating and increased their price target for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Wedbush boosted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. Finally, Truist Financial lifted their target price on Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $77.25.

Equity Residential 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.