Teacher Retirement System of Texas Has $3.57 Million Stock Position in Equity Residential (NYSE:EQR)

Teacher Retirement System of Texas grew its position in Equity Residential (NYSE:EQR - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,921 shares of the real estate investment trust's stock after buying an additional 5,293 shares during the period. Teacher Retirement System of Texas' holdings in Equity Residential were worth $3,573,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Transamerica Financial Advisors Inc. boosted its position in shares of Equity Residential by 4.1% during 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 during the period. Smartleaf Asset Management LLC boosted its position 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 boosted its position in shares of Equity Residential by 51.6% during the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 157 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Equity Residential by 27.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 160 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Equity Residential by 2.9% during the 1st 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 period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Down 0.6%

EQR traded down $0.37 during trading on Friday, hitting $66.71. The company had a trading volume of 1,284,643 shares, compared to its average volume of 1,768,713. The company has a market cap of $25.35 billion, a PE ratio of 25.46, a P/E/G ratio of 3.45 and a beta of 0.88. The business has a 50-day moving average of $68.74 and a 200-day moving average of $69.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.20 and a quick ratio of 0.20. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84.

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

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were paid a dividend of $0.6925 per share. The ex-dividend date was Tuesday, June 24th. This represents a $2.77 annualized dividend and a yield of 4.15%. Equity Residential's payout ratio is 105.73%.

Wall Street Analyst Weigh In

EQR has been the subject of several recent research reports. Barclays raised their price target on shares of Equity Residential from $79.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Scotiabank decreased their price target on shares of 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. Evercore ISI raised shares of Equity Residential from an "in-line" rating to an "outperform" rating and raised their price target for the company from $74.00 to $75.00 in a research report on Monday, July 7th. Wedbush reissued a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a research report on Wednesday, May 28th. Finally, Mizuho decreased their price target on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $79.19.

Equity Residential 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.