Equity Residential $EQR Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Equity Residential by 23.4% in the first quarter, adding 47,895 shares to bring its total to 252,303 shares valued at about $14.9 million.
• Equity Residential reported Q1 earnings of $0.24 per share, missing analysts’ expectations of $0.33, while revenue came in just below estimates at $779.85 million.
• The company paid a quarterly dividend of $0.7025 per share, representing a 4.0% annualized yield, and analysts currently rate the stock a consensus “Hold” with an average price target of $70.80.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Equity Residential (NYSE:EQR - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,303 shares of the real estate investment trust's stock after acquiring an additional 47,895 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.07% of Equity Residential worth $14,924,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Equity Residential by 6.1% in the 1st quarter. Fifth Third Bancorp now owns 11,068 shares of the real estate investment trust's stock worth $655,000 after purchasing an additional 635 shares during the period. Candriam S.C.A. boosted its position in Equity Residential by 20.7% during the first quarter. Candriam S.C.A. now owns 46,553 shares of the real estate investment trust's stock worth $2,754,000 after purchasing an additional 7,985 shares in the last quarter. Conning Inc. grew its holdings in Equity Residential by 4.9% in the first quarter. Conning Inc. now owns 11,725 shares of the real estate investment trust's stock valued at $694,000 after purchasing an additional 546 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in Equity Residential by 2.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 205,540 shares of the real estate investment trust's stock valued at $12,066,000 after purchasing an additional 4,859 shares during the period. Finally, Frank Rimerman Advisors LLC increased its position in shares of Equity Residential by 4.2% in the first quarter. Frank Rimerman Advisors LLC now owns 4,990 shares of the real estate investment trust's stock valued at $295,000 after buying an additional 201 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

NYSE:EQR opened at $69.68 on Tuesday. Equity Residential has a one year low of $57.57 and a one year high of $71.50. The stock has a market cap of $26.12 billion, a PE ratio of 27.87, a P/E/G ratio of 5.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a 50 day moving average price of $66.78 and a 200 day moving average price of $63.58.

Equity Residential (NYSE:EQR - Get Free Report) last issued its earnings results 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 firm had revenue of $779.85 million for the quarter, compared to analysts' expectations of $781.79 million. During the same period last year, the firm earned $0.95 earnings per share. Equity Residential's revenue for the quarter was up 2.5% on a year-over-year basis. 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 expect that Equity Residential will post 4.09 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were paid a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential's dividend payout ratio is presently 112.40%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQR shares. JPMorgan Chase & Co. upped their target price on Equity Residential from $71.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Piper Sandler reiterated a "neutral" rating and set a $72.00 target price (down from $78.00) on shares of Equity Residential in a research report on Friday, May 29th. BMO Capital Markets lifted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a "market perform" rating in a research note on Monday, June 8th. Royal Bank Of Canada lowered shares of Equity Residential from an "outperform" rating to a "sector perform" rating and boosted their price target for the stock from $69.00 to $70.00 in a report on Monday, June 8th. Finally, Wells Fargo & Company upped their price objective on shares of Equity Residential from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equity Residential has an average rating of "Hold" and an average price target of $70.80.

About Equity Residential

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.

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.