Equity Residential (NYSE:EQR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Equity Residential (NYSE:EQR) by 13.7% in the third quarter, Holdings Channel reports. The firm owned 234,632 shares of the real estate investment trust’s stock after selling 37,100 shares during the period. New York State Common Retirement Fund’s holdings in Equity Residential were worth $17,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EQR. QRG Capital Management Inc. grew its position in Equity Residential by 200.9% in the first quarter. QRG Capital Management Inc. now owns 77,019 shares of the real estate investment trust’s stock valued at $4,861,000 after acquiring an additional 51,423 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Equity Residential by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after acquiring an additional 381,236 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Equity Residential in the second quarter valued at approximately $3,893,000. Entropy Technologies LP purchased a new position in shares of Equity Residential during the 1st quarter valued at approximately $1,672,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Equity Residential by 72.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 116,790 shares of the real estate investment trust’s stock valued at $7,371,000 after buying an additional 48,975 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Trading Up 2.6 %

NYSE:EQR opened at $72.03 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 1-year low of $53.48 and a 1-year high of $78.83. The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.90. The stock has a fifty day simple moving average of $74.61 and a 200 day simple moving average of $70.30.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.75%. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial raised their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and raised their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Evercore ISI raised their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Piper Sandler raised their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.19.

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.