Kentucky Retirement Systems Insurance Trust Fund Has $719,000 Position in Equity Residential (NYSE:EQR)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Equity Residential (NYSE:EQR) by 7.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,390 shares of the real estate investment trust’s stock after selling 921 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Equity Residential were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Equity Residential during the 4th quarter valued at $2,143,388,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Equity Residential by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after buying an additional 381,236 shares during the period. APG Asset Management US Inc. lifted its stake in shares of Equity Residential by 0.6% in the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock valued at $709,349,000 after purchasing an additional 71,716 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Equity Residential by 5.9% in the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock valued at $570,333,000 after purchasing an additional 516,941 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in shares of Equity Residential by 5.9% in the 4th quarter. Centersquare Investment Management LLC now owns 5,527,431 shares of the real estate investment trust’s stock valued at $338,058,000 after purchasing an additional 309,796 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Scotiabank lifted their price objective on shares of Equity Residential from $65.00 to $72.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Truist Financial lifted their price objective on shares of Equity Residential from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley lifted their price objective on shares of Equity Residential from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company lifted their price objective on shares of Equity Residential from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Finally, Mizuho lifted their price objective on shares of Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.53.

Insider Transactions at Equity Residential

In other news, CFO Robert Garechana sold 6,357 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $69.08, for a total transaction of $439,141.56. Following the transaction, the chief financial officer now owns 14,576 shares in the company, valued at approximately $1,006,910.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Equity Residential Stock Performance

Shares of NYSE:EQR traded up $1.25 on Friday, hitting $70.77. 1,415,699 shares of the company were exchanged, compared to its average volume of 1,487,713. The company’s 50 day moving average price is $67.39 and its two-hundred day moving average price is $63.92. Equity Residential has a one year low of $52.57 and a one year high of $71.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $26.86 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 4.07 and a beta of 0.87.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a dividend of $0.675 per share. The ex-dividend date was Monday, July 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.82%. Equity Residential’s payout ratio is 112.03%.

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.