New York State Teachers Retirement System Has $20.84 Million Position in Equity Residential (NYSE:EQR)

New York State Teachers Retirement System decreased its position in Equity Residential (NYSE:EQR - Free Report) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,816 shares of the real estate investment trust's stock after selling 37,976 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Equity Residential worth $20,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQR. abrdn plc lifted its holdings in Equity Residential by 1.3% in the 3rd quarter. abrdn plc now owns 234,597 shares of the real estate investment trust's stock valued at $17,413,000 after purchasing an additional 2,973 shares in the last quarter. Vanderbilt University increased its holdings in Equity Residential by 5.4% in the 3rd quarter. Vanderbilt University now owns 37,184 shares of the real estate investment trust's stock valued at $2,769,000 after purchasing an additional 1,898 shares during the last quarter. Summit Place Financial Advisors LLC boosted its holdings in Equity Residential by 217.3% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 19,035 shares of the real estate investment trust's stock valued at $1,417,000 after acquiring an additional 13,035 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Equity Residential by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 1,300 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 650 shares in the last quarter. Finally, Ellis Investment Partners LLC acquired a new position in shares of Equity Residential during the third quarter worth about $212,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America downgraded shares of Equity Residential from a "buy" rating to a "neutral" rating and increased their target price for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. BNP Paribas started coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price objective for the company. Scotiabank upped their target price on Equity Residential from $77.00 to $81.00 and gave the company a "sector perform" rating in a research note on Monday, September 16th. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 target price for the company. Finally, Evercore ISI boosted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.19.

Equity Residential Price Performance

NYSE:EQR traded down $1.25 during mid-day trading on Friday, reaching $69.12. 2,350,630 shares of the company were exchanged, compared to its average volume of 1,864,867. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock has a market cap of $26.21 billion, a PE ratio of 28.33, a PEG ratio of 6.16 and a beta of 0.89. Equity Residential has a 12 month low of $53.28 and a 12 month high of $78.83. The company has a fifty day moving average of $74.69 and a 200 day moving average of $70.09.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.91%. Equity Residential's dividend payout ratio is currently 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.