California Public Employees Retirement System Has $41.04 Million Position in Equity Residential $EQR

Key Points

• CalPERS trimmed its stake in Equity Residential by 6.7% in the first quarter, selling 49,782 shares and ending with 693,755 shares worth about $41.0 million.
• Equity Residential reported Q1 earnings of $0.24 per share, missing analyst expectations of $0.33, while revenue came in roughly in line at $779.85 million and rose 2.5% year over year.
• The REIT recently paid a quarterly dividend of $0.7025 per share annualizing to $2.81, but its 112.4% payout ratio suggests the dividend is being paid out at a level above current earnings.

California Public Employees Retirement System lowered its holdings in Equity Residential (NYSE:EQR - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 693,755 shares of the real estate investment trust's stock after selling 49,782 shares during the quarter. California Public Employees Retirement System owned 0.19% of Equity Residential worth $41,036,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pensionfund Sabic acquired a new stake in Equity Residential during the 4th quarter worth $1,567,000. Wolverine Asset Management LLC acquired a new position in Equity Residential in the fourth quarter valued at about $1,964,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Equity Residential by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,016,454 shares of the real estate investment trust's stock worth $63,051,000 after acquiring an additional 55,786 shares in the last quarter. Pensionfund PDN bought a new stake in shares of Equity Residential in the fourth quarter worth about $3,124,000. Finally, Geode Capital Management LLC increased its holdings in shares of Equity Residential by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 10,258,275 shares of the real estate investment trust's stock worth $644,412,000 after acquiring an additional 114,604 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Equity Residential Price Performance

NYSE EQR opened at $68.83 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.77. Equity Residential has a 12-month low of $57.57 and a 12-month high of $71.50. The company has a market capitalization of $25.80 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 5.48 and a beta of 0.74. The firm's 50 day moving average is $67.07 and its 200-day moving average is $63.79.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.09). Equity Residential had a return on equity of 8.57% and a net margin of 30.63%.The business had revenue of $779.85 million during the quarter, compared to the consensus estimate of $781.79 million. During the same period in the prior year, the firm earned $0.95 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. Equity Residential has set its FY 2026 guidance at 4.020-4.140 EPS and its Q2 2026 guidance at 0.980-1.020 EPS. Equities research analysts anticipate that Equity Residential will post 4.09 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were paid a dividend of $0.7025 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, June 29th. Equity Residential's dividend payout ratio is currently 112.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EQR shares. Morgan Stanley upgraded Equity Residential from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $74.00 in a report on Thursday, March 26th. Piper Sandler restated a "neutral" rating and set a $72.00 target price (down from $78.00) on shares of Equity Residential in a report on Friday, May 29th. Truist Financial lifted their price target on shares of Equity Residential from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. BMO Capital Markets upped their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a "market perform" rating in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Equity Residential from $71.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $71.25.

Equity Residential Company Profile

Equity Residential NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.

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