Kentucky Retirement Systems Has $1.77 Million Stake in Equity Residential (NYSE:EQR)

Kentucky Retirement Systems decreased its holdings in shares of Equity Residential (NYSE:EQR) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,768 shares of the real estate investment trust’s stock after selling 2,220 shares during the quarter. Kentucky Retirement Systems’ holdings in Equity Residential were worth $1,770,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Equity Residential by 482.3% in 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 last quarter. Los Angeles Capital Management LLC lifted its position in shares of Equity Residential by 1,459.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after acquiring an additional 1,824,494 shares during the period. National Bank of Canada FI grew its holdings in shares of Equity Residential by 679.0% during the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock worth $40,528,000 after purchasing an additional 518,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Equity Residential by 39.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock valued at $116,245,000 after purchasing an additional 475,124 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Equity Residential by 1.9% in the first 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. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Stock Performance

Shares of EQR stock opened at $74.42 on Tuesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12 month low of $54.70 and a 12 month high of $78.83. The company’s fifty day simple moving average is $74.31 and its 200-day simple moving average is $70.86. The firm has a market cap of $28.24 billion, a PE ratio of 30.50, a P/E/G ratio of 5.98 and a beta of 0.90.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Analysts Set New Price Targets

A number of research firms have recently commented on EQR. JPMorgan Chase & Co. raised their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wedbush boosted their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. BNP Paribas started coverage on Equity Residential in a research report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. Finally, Wells Fargo & Company cut Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.25.

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.