State of Alaska Department of Revenue Has $16.16 Million Stock Position in Equity Residential (NYSE:EQR)

State of Alaska Department of Revenue lifted its stake in Equity Residential (NYSE:EQR) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 225,753 shares of the real estate investment trust’s stock after purchasing an additional 4,578 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Equity Residential worth $16,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Keybank National Association OH lifted its holdings in shares of Equity Residential by 2.0% during the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust’s stock valued at $502,000 after buying an additional 139 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Equity Residential by 4.1% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 151 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Equity Residential by 38.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 156 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Equity Residential by 51.6% during the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 157 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Equity Residential by 27.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EQR. Truist Financial raised their price objective on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Wedbush reissued a “neutral” rating and issued a $75.00 price objective on shares of Equity Residential in a research note on Wednesday, May 28th. Barclays raised their price objective on Equity Residential from $79.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Stifel Nicolaus cut their price objective on Equity Residential from $82.25 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Scotiabank dropped their price target on Equity Residential from $82.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.25.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $68.72 on Wednesday. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84. The firm has a market capitalization of $26.11 billion, a PE ratio of 26.23, a PEG ratio of 4.03 and a beta of 0.90. The business’s 50 day moving average is $69.09 and its 200-day moving average is $70.12. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The company had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. During the same quarter last year, the firm earned $0.93 EPS. Equity Residential’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Tuesday, June 24th. Equity Residential’s payout ratio is presently 105.73%.

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.