Teachers Retirement System of The State of Kentucky Decreases Stock Position in Equity Residential (NYSE:EQR)

Teachers Retirement System of The State of Kentucky cut its stake in Equity Residential (NYSE:EQR) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,607 shares of the real estate investment trust’s stock after selling 1,066 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Equity Residential were worth $1,811,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its position in shares of Equity Residential by 593.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Equity Residential during the fourth quarter worth about $28,000. Allworth Financial LP grew its position in Equity Residential by 120.8% during the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in Equity Residential during the fourth quarter worth about $33,000. Finally, AdvisorNet Financial Inc purchased a new position in Equity Residential during the fourth quarter worth about $34,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Up 0.7 %

Shares of NYSE:EQR opened at $68.31 on Friday. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The company has a market cap of $25.93 billion, a PE ratio of 28.34, a P/E/G ratio of 3.88 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. The stock’s 50-day moving average is $65.35 and its 200 day moving average is $62.49.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The company had revenue of $730.80 million for the quarter, compared to the consensus estimate of $728.09 million. During the same quarter in the previous year, the business earned $0.87 EPS. Equity Residential’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.95%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $68.00 target price on shares of Equity Residential in a research report on Monday, April 29th. Piper Sandler boosted their target price on Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Morgan Stanley lifted their price target on Equity Residential from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. Finally, JPMorgan Chase & Co. lifted their price target on Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Equity Residential has an average rating of “Hold” and a consensus target price of $68.09.

Insiders Place Their Bets

In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the transaction, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.