California Public Employees Retirement System Has $55.03 Million Holdings in Equity Residential (NYSE:EQR)

California Public Employees Retirement System grew its stake in Equity Residential (NYSE:EQR - Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,894 shares of the real estate investment trust's stock after purchasing an additional 9,247 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Equity Residential worth $55,032,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock worth $26,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential in the third quarter valued at about $29,000. Continuum Advisory LLC bought a new position in Equity Residential during the third quarter worth about $40,000. Smartleaf Asset Management LLC raised its stake in Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 156 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Equity Residential by 109.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 288 shares during the period. 92.68% of the stock is owned by institutional investors.

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Insider Activity

In related news, CAO Ian Kaufman sold 642 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company's stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares of the company's stock, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last quarter. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

EQR has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Evercore ISI lifted their price objective on Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Mizuho reduced their target price on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Truist Financial raised their price target on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Scotiabank upped their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $78.51.

Equity Residential Price Performance

Shares of EQR traded down $4.86 during trading hours on Friday, reaching $63.69. The stock had a trading volume of 2,449,507 shares, compared to its average volume of 1,691,121. The stock has a market capitalization of $24.18 billion, a PE ratio of 23.42, a PEG ratio of 3.99 and a beta of 0.85. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The company's 50-day moving average is $70.99 and its two-hundred day moving average is $72.18.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 31st. Equity Residential's dividend payout ratio (DPR) is presently 101.84%.

Equity Residential Company 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.