State of Alaska Department of Revenue Purchases 4,578 Shares of Equity Residential (NYSE:EQR)

State of Alaska Department of Revenue lifted its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,753 shares of the real estate investment trust's stock after acquiring an additional 4,578 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Equity Residential worth $16,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EQR. Norges Bank purchased a new stake in shares of Equity Residential during the fourth quarter valued at approximately $2,493,426,000. Northern Trust Corp increased its position in shares of Equity Residential by 53.1% during the fourth quarter. Northern Trust Corp now owns 6,476,004 shares of the real estate investment trust's stock valued at $464,718,000 after acquiring an additional 2,246,555 shares during the last quarter. Invesco Ltd. increased its position in shares of Equity Residential by 12.0% during the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after acquiring an additional 696,343 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of Equity Residential by 172.1% during the fourth quarter. Adelante Capital Management LLC now owns 1,077,337 shares of the real estate investment trust's stock valued at $77,310,000 after acquiring an additional 681,356 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC increased its position in Equity Residential by 79.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,161,137 shares of the real estate investment trust's stock worth $83,323,000 after buying an additional 512,723 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Price Performance

NYSE:EQR traded up $0.04 during trading hours on Friday, hitting $68.91. 2,959,946 shares of the company's stock traded hands, compared to its average volume of 1,720,097. The firm has a market cap of $26.18 billion, a P/E ratio of 26.30, a P/E/G ratio of 4.03 and a beta of 0.90. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.84. The business's fifty day simple moving average is $69.31 and its two-hundred day simple moving average is $70.01. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.70.

Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $760.81 million during the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. On average, research analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 4.02%. The ex-dividend date is Tuesday, June 24th. Equity Residential's dividend payout ratio (DPR) is currently 105.73%.

Analyst Ratings Changes

A number of research firms have issued reports on EQR. Wedbush reissued a "neutral" rating and issued a $75.00 target price on shares of Equity Residential in a research report on Wednesday, May 28th. Truist Financial raised their target price on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Scotiabank decreased their target price on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a research report on Friday, June 13th. Royal Bank Of Canada raised their target price on Equity Residential from $75.00 to $76.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Mizuho decreased their target price on Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.