State of New Jersey Common Pension Fund D Reduces Stake in Equity Residential (NYSE:EQR)

State of New Jersey Common Pension Fund D cut its holdings in Equity Residential (NYSE:EQR - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,583 shares of the real estate investment trust's stock after selling 15,000 shares during the period. State of New Jersey Common Pension Fund D's holdings in Equity Residential were worth $11,287,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential during the third quarter valued at about $25,000. Assetmark Inc. lifted its stake in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. lifted its stake in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 195 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in 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 period. 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 valued at $38,000 after purchasing an additional 327 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Down 0.0 %

Shares of NYSE EQR traded down $0.03 during midday trading on Monday, reaching $73.50. The company had a trading volume of 931,956 shares, compared to its average volume of 1,856,558. The stock has a market cap of $27.89 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 6.14 and a beta of 0.90. Equity Residential has a one year low of $53.74 and a one year high of $78.83. The firm's fifty day moving average price is $74.48 and its 200-day moving average price is $70.49. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, September 24th. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

Wall Street Analysts Forecast Growth

EQR has been the topic of a number of recent analyst reports. Bank of America downgraded Equity Residential from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of Equity Residential in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 price objective on the stock. Evercore ISI raised their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, UBS Group boosted their price target on shares of Equity Residential from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $76.19.

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.