Mediolanum International Funds Ltd Cuts Stock Position in Equity Residential (NYSE:EQR)

Mediolanum International Funds Ltd cut its holdings in shares of Equity Residential (NYSE:EQR) by 11.0% during the fourth quarter, Holdings Channel reports. The firm owned 17,849 shares of the real estate investment trust’s stock after selling 2,215 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Equity Residential were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential during the third quarter worth about $29,000. Assetmark Inc. grew its position in shares of Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the third quarter worth about $33,000. Finally, UMB Bank n.a. grew its position in shares of Equity Residential by 69.6% during the third 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 in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Up 1.2 %

Equity Residential stock opened at $70.61 on Monday. The stock has a market cap of $26.79 billion, a PE ratio of 28.94, a P/E/G ratio of 4.21 and a beta of 0.93. The stock has a 50-day moving average price of $71.49 and a 200 day moving average price of $72.68. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

EQR has been the subject of a number of analyst reports. StockNews.com downgraded Equity Residential from a “hold” rating to a “sell” rating in a research report on Friday. Barclays lowered their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Scotiabank lowered their price target on 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 lowered their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $78.36.

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.