New York State Teachers Retirement System Sells 37,976 Shares of Equity Residential (NYSE:EQR)

New York State Teachers Retirement System reduced its stake in shares of Equity Residential (NYSE:EQR) by 11.9% during the 3rd quarter, according to its most recent disclosure 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 quarter. New York State Teachers Retirement System owned about 0.07% of Equity Residential worth $20,835,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EQR. Principal Financial Group Inc. grew its stake in shares of Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after buying an additional 5,925,177 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Equity Residential by 679.0% during the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after buying an additional 518,424 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Equity Residential by 39.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock valued at $116,245,000 after buying an additional 475,124 shares during the last quarter. Sei Investments Co. grew its stake in shares of Equity Residential by 77.5% during the first quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock valued at $67,014,000 after buying an additional 463,664 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Equity Residential by 793.8% during the first quarter. SG Americas Securities LLC now owns 444,791 shares of the real estate investment trust’s stock valued at $28,071,000 after buying an additional 395,029 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Down 1.8 %

Equity Residential stock opened at $69.12 on Friday. The business has a fifty day moving average of $74.69 and a two-hundred day moving average of $70.02. 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 firm has a market cap of $26.21 billion, a P/E ratio of 28.33, a P/E/G ratio of 6.16 and a beta of 0.89. Equity Residential has a twelve month low of $53.28 and a twelve month high of $78.83.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend 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 presently 110.66%.

Analysts Set New Price Targets

EQR has been the topic of a number of analyst reports. 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. BNP Paribas initiated coverage on Equity Residential in a research note on Wednesday, September 11th. They set an “outperform” rating and a $83.00 target price on the stock. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $69.00 to $77.00 in a report on Monday, August 26th. Royal Bank of Canada lowered their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Twelve 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, the stock currently has a consensus rating of “Hold” and an average target price 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.