New York State Common Retirement Fund Has $30.89 Million Position in Equity Residential (NYSE:EQR)

New York State Common Retirement Fund reduced its holdings in Equity Residential (NYSE:EQR) by 16.9% during the 1st quarter, HoldingsChannel reports. The firm owned 431,200 shares of the real estate investment trust’s stock after selling 87,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Equity Residential were worth $30,887,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. CX Institutional grew its position in shares of Equity Residential by 31.9% in the first quarter. CX Institutional now owns 612 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 148 shares during the last quarter. Berman Capital Advisors LLC grew its position in shares of Equity Residential by 22.6% in the fourth quarter. Berman Capital Advisors LLC now owns 851 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Equity Residential by 11.6% in the first quarter. Parallel Advisors LLC now owns 1,576 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 164 shares during the last quarter. Motco grew its position in shares of Equity Residential by 4.2% in the fourth quarter. Motco now owns 4,100 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 165 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Equity Residential by 3.5% in the fourth quarter. Assetmark Inc. now owns 5,073 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 170 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.

NYSE:EQR opened at $80.80 on Friday. Equity Residential has a 1 year low of $45.42 and a 1 year high of $82.05. The firm has a 50 day moving average price of $74.68. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $30.22 billion, a PE ratio of 45.65, a P/E/G ratio of 8.99 and a beta of 0.77.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.53). Equity Residential had a net margin of 26.64% and a return on equity of 6.20%. On average, analysts anticipate that Equity Residential will post 2.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 29th were paid a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, March 26th. Equity Residential’s dividend payout ratio (DPR) is currently 73.93%.

A number of equities research analysts recently weighed in on EQR shares. Mizuho downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research report on Thursday, June 3rd. TheStreet downgraded Equity Residential from a “b-” rating to a “c” rating in a research report on Tuesday, April 27th. Piper Sandler raised Equity Residential from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $54.00 to $76.00 in a research report on Thursday, April 29th. BMO Capital Markets raised Equity Residential from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $72.00 to $89.00 in a research report on Tuesday, June 1st. Finally, Zelman & Associates raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.40.

In related news, Director Bradley A. Keywell sold 3,658 shares of the firm’s stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $79.82, for a total value of $291,981.56. Following the completion of the sale, the director now owns 3,392 shares of the company’s stock, valued at $270,749.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David J. Neithercut sold 20,863 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $75.11, for a total transaction of $1,567,019.93. Following the completion of the sale, the director now directly owns 3,392 shares of the company’s stock, valued at approximately $254,773.12. The disclosure for this sale can be found here. In the last three months, insiders sold 44,529 shares of company stock valued at $3,371,174. 2.50% of the stock is currently owned by company insiders.

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 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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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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