Equity Residential (NYSE:EQR) Position Lifted by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its stake in shares of Equity Residential (NYSE:EQR) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,415 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the quarter. Spirit of America Management Corp NY’s holdings in Equity Residential were worth $2,326,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential in the 3rd quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Equity Residential in the 3rd quarter worth about $29,000. Assetmark Inc. lifted its position in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Equity Residential in the 3rd quarter worth about $33,000. Finally, UMB Bank n.a. lifted its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQR shares. Wells Fargo & Company reduced their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Scotiabank cut their price objective on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Royal Bank of Canada cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho cut their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.36.

Equity Residential Stock Performance

Shares of EQR opened at $70.72 on Wednesday. The firm’s 50 day moving average is $71.37 and its 200-day moving average is $72.71. The stock has a market capitalization of $26.83 billion, a P/E ratio of 28.98, a P/E/G ratio of 4.35 and a beta of 0.93. 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 has a 12-month low of $57.33 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a $0.675 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.82%. Equity Residential’s dividend payout ratio is currently 110.66%.

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.