Public Employees Retirement System of Ohio Has $37.34 Million Stock Holdings in Equity Residential $EQR

Public Employees Retirement System of Ohio trimmed its stake in shares of Equity Residential (NYSE:EQR) by 2.4% in the second quarter, HoldingsChannel.com reports. The fund owned 549,621 shares of the real estate investment trust’s stock after selling 13,647 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Equity Residential were worth $37,336,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. CX Institutional raised its stake in Equity Residential by 5.7% in the second quarter. CX Institutional now owns 2,939 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 159 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in Equity Residential by 4.9% during the fourth quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 165 shares in the last quarter. Cetera Investment Advisers grew its stake in Equity Residential by 0.3% during the first quarter. Cetera Investment Advisers now owns 61,177 shares of the real estate investment trust’s stock worth $3,619,000 after buying an additional 171 shares in the last quarter. Leonteq Securities AG increased its holdings in Equity Residential by 48.8% in the 1st quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 180 shares during the period. Finally, Frank Rimerman Advisors LLC increased its holdings in Equity Residential by 4.2% in the 1st quarter. Frank Rimerman Advisors LLC now owns 4,990 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 201 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Up 0.0%

Shares of Equity Residential stock opened at $63.68 on Friday. The firm has a market capitalization of $23.88 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 5.53 and a beta of 0.73. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $66.96 and its 200 day moving average is $64.61. Equity Residential has a 1 year low of $57.57 and a 1 year high of $71.50.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. Equity Residential had a net margin of 27.97% and a return on equity of 8.06%. The business had revenue of $785.05 million during the quarter, compared to the consensus estimate of $787.28 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Equity Residential will post 4.08 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were paid a $0.7025 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, June 29th. Equity Residential’s dividend payout ratio is presently 122.17%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQR. Weiss Ratings raised shares of Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Piper Sandler lifted their price objective on shares of Equity Residential from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their price objective on shares of Equity Residential from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Barclays restated an “equal weight” rating and set a $76.00 target price on shares of Equity Residential in a research note on Tuesday, July 14th. Finally, Mizuho lifted their price target on Equity Residential from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.40.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.