New York State Teachers Retirement System Purchases 12,824 Shares of Equity Residential (NYSE:EQR)

New York State Teachers Retirement System lifted its stake in Equity Residential (NYSE:EQR - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,596 shares of the real estate investment trust's stock after purchasing an additional 12,824 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Equity Residential worth $17,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. SRS Capital Advisors Inc. lifted its stake in Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Versant Capital Management Inc increased its position in Equity Residential by 51.6% in the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after buying an additional 157 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 288 shares during the period. Smartleaf Asset Management LLC increased its stake in Equity Residential by 38.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 156 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Equity Residential in the fourth quarter valued at $51,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

EQR traded down $0.36 during trading on Friday, hitting $66.31. The company's stock had a trading volume of 1,362,183 shares, compared to its average volume of 1,758,990. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.90 and a beta of 0.88. The firm's 50 day moving average price is $69.10 and its two-hundred day moving average price is $69.60. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.84.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.02. The business had revenue of $760.81 million during the quarter, compared to analysts' expectations of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. Sell-side analysts forecast that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.6925 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.18%. Equity Residential's dividend payout ratio (DPR) is currently 105.73%.

Wall Street Analysts Forecast Growth

EQR has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Barclays lifted their price objective on Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Scotiabank lowered their price objective on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus dropped their target price on Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial boosted their price target on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.25.

Equity Residential Company 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.