New York State Teachers Retirement System Acquires 19,988 Shares of Equity Residential $EQR

Key Points

• The New York State Teachers Retirement System increased its stake in Equity Residential by 8.1%, acquiring an additional 19,988 shares to own approximately 0.07% of the company, valued at $17.99 million.
• Equity Residential recently announced a quarterly dividend of $0.6925 per share, which represents an annualized yield of 4.5%, with an ex-dividend date of September 25th.
• Analysts have mixed ratings on Equity Residential, with a consensus rating of "Hold" and an average price target of $74.25; some firms have recently downgraded their ratings and price targets.

New York State Teachers Retirement System boosted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 266,584 shares of the real estate investment trust's stock after buying an additional 19,988 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Equity Residential worth $17,992,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Greenleaf Trust boosted its stake in Equity Residential by 4.4% during the first quarter. Greenleaf Trust now owns 3,858 shares of the real estate investment trust's stock valued at $276,000 after buying an additional 162 shares during the period. Brown Advisory Inc. lifted its stake in Equity Residential by 1.6% during the first quarter. Brown Advisory Inc. now owns 10,733 shares of the real estate investment trust's stock worth $768,000 after purchasing an additional 166 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Equity Residential by 2.9% during the first quarter. Avior Wealth Management LLC now owns 6,283 shares of the real estate investment trust's stock worth $450,000 after purchasing an additional 177 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in Equity Residential by 24.8% during the first quarter. Global X Japan Co. Ltd. now owns 896 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 178 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Equity Residential by 6.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,246 shares of the real estate investment trust's stock worth $232,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQR. BNP Paribas lowered Equity Residential from an "outperform" rating to a "hold" rating in a research note on Monday, September 29th. Morgan Stanley dropped their price target on Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Barclays dropped their price target on Equity Residential from $81.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, September 30th. Wall Street Zen raised Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, The Goldman Sachs Group decreased their price objective on Equity Residential from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $74.25.

Equity Residential Stock Up 1.2%

EQR opened at $62.24 on Friday. The company has a market cap of $23.77 billion, a P/E ratio of 23.48, a P/E/G ratio of 3.12 and a beta of 0.90. The business's 50-day moving average price is $64.26 and its 200-day moving average price is $66.56. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.75. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.32.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The firm had revenue of $768.83 million for the quarter, compared to the consensus estimate of $770.60 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, equities analysts expect that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Thursday, September 25th. Equity Residential's payout ratio is currently 104.53%.

About Equity Residential

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.

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