Equity Residential (NYSE:EQR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Equity Residential (NYSE:EQR) by 11.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 279,816 shares of the real estate investment trust’s stock after selling 37,976 shares during the period. New York State Teachers Retirement System’s holdings in Equity Residential were worth $20,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in 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 period. Principal Financial Group Inc. grew its position in Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock worth $496,040,000 after purchasing an additional 5,925,177 shares during the period. Canada Pension Plan Investment Board grew its position in Equity Residential by 1.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock worth $346,794,000 after purchasing an additional 60,000 shares during the period. Boston Partners grew its position in Equity Residential by 4.3% during the 1st quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock worth $171,368,000 after purchasing an additional 112,270 shares during the period. Finally, American Century Companies Inc. grew its position in Equity Residential by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 2,180,190 shares of the real estate investment trust’s stock worth $151,174,000 after purchasing an additional 373,229 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Down 1.8 %

Shares of Equity Residential stock opened at $69.12 on Friday. The firm has a market capitalization of $26.21 billion, a PE ratio of 28.33, a P/E/G ratio of 6.16 and a beta of 0.89. Equity Residential has a twelve month low of $53.28 and a twelve month high of $78.83. The firm’s 50-day moving average price is $74.69 and its 200 day moving average price is $70.02. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Analyst Ratings Changes

EQR has been the topic of several analyst reports. Truist Financial increased their price target on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company downgraded Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their price target on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler increased their target price on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.19.

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.