Kentucky Retirement Systems Has $1.80 Million Holdings in Equity Residential (NYSE:EQR)

Kentucky Retirement Systems reduced its stake in shares of Equity Residential (NYSE:EQR) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,988 shares of the real estate investment trust’s stock after selling 224 shares during the quarter. Kentucky Retirement Systems’ holdings in Equity Residential were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in Equity Residential in the 1st quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Equity Residential during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 155 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in Equity Residential during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Activity

In related news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the transaction, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Equity Residential Trading Down 0.6 %

Shares of NYSE:EQR opened at $76.58 on Friday. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 4.27 and a beta of 0.89. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. The company’s fifty day simple moving average is $72.72 and its 200 day simple moving average is $67.62. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. As a group, research analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.53%. Equity Residential’s dividend payout ratio is currently 112.03%.

Wall Street Analysts Forecast Growth

EQR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Truist Financial increased their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group lifted their price objective on Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Evercore ISI increased their target price on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Wedbush boosted their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.62.

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.