New York State Common Retirement Fund Sells 37,100 Shares of Equity Residential (NYSE:EQR)

New York State Common Retirement Fund lessened its stake in Equity Residential (NYSE:EQR - Free Report) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,632 shares of the real estate investment trust's stock after selling 37,100 shares during the period. New York State Common Retirement Fund owned 0.06% of Equity Residential worth $17,471,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EQR. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential during the third quarter worth $25,000. Fidelis Capital Partners LLC bought a new stake in Equity Residential during the 1st quarter worth about $27,000. UMB Bank n.a. lifted its position in Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 195 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 155 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its position in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock worth $38,000 after buying an additional 327 shares during the period. Institutional investors own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQR. Truist Financial raised their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Royal Bank of Canada dropped their price objective on Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised Equity Residential from a "hold" rating to a "buy" rating and increased their target price for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. UBS Group boosted their target price on Equity Residential from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company downgraded shares of Equity Residential from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $76.19.

Equity Residential Stock Down 0.9 %

Equity Residential stock traded down $0.65 during midday trading on Wednesday, reaching $71.38. The stock had a trading volume of 2,427,350 shares, compared to its average volume of 1,863,416. The stock has a market capitalization of $27.06 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.90. The firm's fifty day simple moving average is $74.61 and its 200-day simple moving average is $70.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.21 and a current ratio of 0.13. Equity Residential has a 1-year low of $53.48 and a 1-year high of $78.83.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.78%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

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.