Public Employees Retirement Association of Colorado Trims Stock Position in Equity Residential (NYSE:EQR)

Public Employees Retirement Association of Colorado trimmed its holdings in Equity Residential (NYSE:EQR) by 30.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,229 shares of the real estate investment trust’s stock after selling 14,970 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Equity Residential were worth $2,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares during the last quarter. APG Asset Management US Inc. increased its holdings in Equity Residential by 0.6% in the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock valued at $709,349,000 after purchasing an additional 71,716 shares during the last quarter. Principal Financial Group Inc. raised its position in Equity Residential by 482.3% in the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Equity Residential by 5.9% during the fourth quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock worth $338,058,000 after buying an additional 309,796 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Equity Residential by 0.7% in the first quarter. Canada Pension Plan Investment Board now owns 4,941,360 shares of the real estate investment trust’s stock valued at $311,849,000 after buying an additional 34,000 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Up 1.1 %

EQR opened at $77.44 on Tuesday. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The business has a 50 day moving average price of $72.91 and a two-hundred day moving average price of $67.79. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The company has a market cap of $29.39 billion, a PE ratio of 32.13, a P/E/G ratio of 4.27 and a beta of 0.89.

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

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, September 24th will be given a $0.675 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.49%. Equity Residential’s payout ratio is currently 112.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EQR shares. Evercore ISI lifted their target price on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. Truist Financial boosted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group increased their price objective on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Piper Sandler increased their price target on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average target price of $75.62.

About Equity Residential

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.