Public Employees Retirement System of Ohio Sells 13,647 Shares of Equity Residential $EQR

Public Employees Retirement System of Ohio cut its holdings in Equity Residential (NYSE:EQR) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 549,621 shares of the real estate investment trust’s stock after selling 13,647 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.15% of Equity Residential worth $37,336,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Equity Residential in the fourth quarter valued at about $2,201,674,000. Cohen & Steers Inc. grew its position in shares of Equity Residential by 227.7% during the 4th quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust’s stock worth $466,869,000 after buying an additional 5,145,442 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Equity Residential by 876.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,500,885 shares of the real estate investment trust’s stock valued at $291,342,000 after acquiring an additional 4,039,752 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Equity Residential by 797.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,085,406 shares of the real estate investment trust’s stock valued at $134,988,000 after acquiring an additional 1,852,970 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Equity Residential by 353.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,002,892 shares of the real estate investment trust’s stock valued at $129,647,000 after acquiring an additional 1,561,241 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EQR shares. BNP Paribas Exane increased their target price on shares of Equity Residential from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Weiss Ratings raised Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wolfe Research raised Equity Residential from a “hold” rating to an “outperform” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $72.00 price target on shares of Equity Residential in a report on Monday, July 20th. Finally, Bank of America upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.40.

Equity Residential Trading Up 0.0%

Equity Residential stock opened at $63.68 on Friday. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 5.53 and a beta of 0.73. The firm has a 50-day moving average of $66.96 and a 200-day moving average of $64.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.19 and a quick ratio of 0.19. Equity Residential has a one year low of $57.57 and a one year high of $71.50.

Equity Residential (NYSE:EQR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $785.05 million for the quarter, compared to the consensus estimate of $787.28 million. Equity Residential had a net margin of 27.97% and a return on equity of 8.06%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. On average, equities analysts expect that Equity Residential will post 4.08 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were given a $0.7025 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 annualized dividend and a dividend yield of 4.4%. Equity Residential’s dividend payout ratio is presently 122.17%.

Equity Residential Profile

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.