Illinois Municipal Retirement Fund Sells 65,036 Shares of Equity Residential $EQR

Key Points

• Illinois Municipal Retirement Fund cut its Equity Residential stake by 59.1% in the first quarter, selling 65,036 shares and leaving it with 45,014 shares worth about $2.66 million.
• Equity Residential reported Q1 EPS of $0.24, missing analyst expectations of $0.33, while revenue came in slightly below estimates at $779.85 million but still rose 2.5% year over year.
• The company paid a quarterly dividend of $0.7025, or $2.81 annualized, for a yield of 4.1%, while Wall Street currently rates the stock a consensus Hold with an average price target of $70.80.

Illinois Municipal Retirement Fund trimmed its position in Equity Residential (NYSE:EQR - Free Report) by 59.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,014 shares of the real estate investment trust's stock after selling 65,036 shares during the period. Illinois Municipal Retirement Fund's holdings in Equity Residential were worth $2,663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fulcrum Asset Management LLP bought a new stake in Equity Residential in the third quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of Equity Residential during the third quarter worth $31,000. Zions Bancorporation National Association UT boosted its position in shares of Equity Residential by 375.2% during the fourth quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 379 shares in the last quarter. DV Equities LLC acquired a new position in shares of Equity Residential in the 4th quarter valued at $30,000. Finally, Leonteq Securities AG grew its holdings in shares of Equity Residential by 48.8% in the 1st quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 180 shares during the period. Institutional investors own 92.68% of the company's stock.

Equity Residential Trading Down 0.0%

EQR opened at $68.99 on Monday. The stock has a market capitalization of $25.86 billion, a P/E ratio of 27.59, a P/E/G ratio of 5.48 and a beta of 0.74. The company has a current ratio of 0.18, a quick 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 firm's fifty day simple moving average is $67.02 and its 200 day simple moving average is $63.75.

Equity Residential (NYSE:EQR - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.24 earnings per share (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 the consensus estimate of $781.79 million. During the same quarter last year, the company posted $0.95 EPS. 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. As a group, research analysts anticipate that Equity Residential will post 4.09 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a $0.7025 dividend. The ex-dividend date was Monday, June 29th. This represents a $2.81 annualized dividend and a yield of 4.1%. Equity Residential's payout ratio is presently 112.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EQR. Bank of America raised Equity Residential from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a research note on Wednesday, May 27th. Weiss Ratings downgraded Equity Residential from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. The Goldman Sachs Group lowered their price target on Equity Residential from $71.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, April 16th. Wells Fargo & Company raised their price target on Equity Residential from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Equity Residential from $78.25 to $79.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. 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 stock. According to data from MarketBeat.com, Equity Residential currently 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.

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