Teachers Retirement System of The State of Kentucky cut its holdings in shares of Equity Residential (NYSE:EQR – Get Rating) by 4.2% during the 1st quarter, HoldingsChannel reports. The fund owned 24,086 shares of the real estate investment trust's stock after selling 1,048 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Equity Residential were worth $2,166,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Equity Residential during the first quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Equity Residential during the first quarter worth approximately $40,000. MCF Advisors LLC purchased a new position in shares of Equity Residential during the first quarter worth approximately $48,000. CVA Family Office LLC raised its stake in shares of Equity Residential by 34.9% during the first quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 145 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Equity Residential by 22.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 986 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 179 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Mizuho decreased their target price on shares of Equity Residential from $79.00 to $77.00 and set a "buy" rating on the stock in a research note on Monday. Credit Suisse Group assumed coverage on shares of Equity Residential in a research note on Wednesday, June 22nd. They issued an "outperform" rating and a $80.00 target price on the stock. Evercore ISI decreased their target price on shares of Equity Residential from $85.00 to $81.00 and set an "outperform" rating on the stock in a research note on Monday. UBS Group lifted their target price on shares of Equity Residential from $83.00 to $91.00 and gave the stock a "buy" rating in a research note on Friday, July 29th. Finally, Jefferies Financial Group decreased their target price on shares of Equity Residential from $78.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $84.53.
Equity Residential Stock Performance
Shares of EQR stock opened at $69.86 on Wednesday. Equity Residential has a 12 month low of $67.48 and a 12 month high of $94.32. The stock has a market cap of $26.28 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.82. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.72. The company's fifty day moving average price is $75.31 and its 200-day moving average price is $78.87.
Equity Residential Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, September 26th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, September 23rd. Equity Residential's dividend payout ratio (DPR) is presently 75.08%.
Equity Residential Profile
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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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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