Equity Residential (NYSE:EQR) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY grew its position in Equity Residential (NYSE:EQR) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,415 shares of the real estate investment trust’s stock after buying 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equity Residential by 806.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after buying an additional 3,789,234 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Equity Residential by 1,459.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after buying an additional 1,824,494 shares during the period. FMR LLC boosted its holdings in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after buying an additional 1,741,840 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 8.3% in the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after buying an additional 591,866 shares during the period. Finally, Heitman Real Estate Securities LLC boosted its holdings in shares of Equity Residential by 2,193.2% in the third quarter. Heitman Real Estate Securities LLC now owns 416,647 shares of the real estate investment trust’s stock worth $31,024,000 after buying an additional 398,478 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

NYSE EQR opened at $70.72 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $71.37 and a 200 day simple moving average of $72.71. The company has a market cap 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. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83.

Equity Residential Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on EQR shares. Barclays decreased their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Scotiabank decreased their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company decreased their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Royal Bank of Canada decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Mizuho decreased their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $78.36.

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.