Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 55,129 Shares of Equity Residential (NYSE:EQR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 39.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,479 shares of the real estate investment trust's stock after acquiring an additional 55,129 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Equity Residential worth $14,028,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. SRS Capital Advisors Inc. raised its holdings 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 bought a new stake in shares of Equity Residential during the 3rd quarter worth $29,000. Brooklyn Investment Group acquired a new stake in shares of Equity Residential in the third quarter valued at about $33,000. Continuum Advisory LLC bought a new position in Equity Residential in the 3rd quarter worth approximately $40,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Equity Residential by 109.5% during 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 last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EQR shares. Wells Fargo & Company decreased their price target on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Scotiabank raised their target price on Equity Residential from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Mizuho decreased their price objective on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, Barclays dropped their price target on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $78.51.

Remove Ads

Insider Activity at Equity Residential

In related news, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $309,425.64. Following the transaction, the chief financial officer now owns 14,108 shares in the company, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Manelis sold 9,487 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the sale, the chief operating officer now directly owns 26,781 shares of the company's stock, valued at $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,763 shares of company stock valued at $1,424,217. Company insiders own 1.00% of the company's stock.

Equity Residential Stock Performance

Shares of NYSE EQR traded down $0.32 during trading on Tuesday, reaching $71.04. 1,646,654 shares of the stock traded hands, compared to its average volume of 1,581,690. The stock has a market capitalization of $26.97 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The company has a 50-day moving average of $70.83 and a 200-day moving average of $72.59.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's dividend payout ratio (DPR) is 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.