Equity Residential (NYSE:EQR) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,596 shares of the real estate investment trust's stock after acquiring an additional 12,824 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of Equity Residential worth $17,651,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Keybank National Association OH grew its holdings in Equity Residential by 2.0% during the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after acquiring an additional 139 shares during the period. Transamerica Financial Advisors Inc. boosted its position in Equity Residential by 4.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust's stock worth $275,000 after purchasing an additional 151 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 156 shares during the period. Versant Capital Management Inc grew its position in Equity Residential by 51.6% during the first quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 157 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Equity Residential by 27.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 160 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EQR shares. Wedbush restated a "neutral" rating and set a $75.00 target price on shares of Equity Residential in a research report on Wednesday, May 28th. Truist Financial raised their price objective on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, March 10th. Scotiabank reduced their target price on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a research note on Friday, June 13th. Barclays increased their target price on Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Mizuho cut their price target on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has an average rating of "Hold" and an average target price of $79.25.

Equity Residential Trading Down 0.5%

EQR stock traded down $0.36 during midday trading on Thursday, hitting $66.31. 1,362,183 shares of the company's stock were exchanged, compared to its average volume of 1,753,223. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $25.19 billion, a PE ratio of 25.31, a P/E/G ratio of 3.93 and a beta of 0.88. The business has a 50-day simple moving average of $69.21 and a two-hundred day simple moving average of $69.70.

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. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The business had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. During the same period in the previous year, the firm earned $0.93 EPS. The business's revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

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

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.