Public Employees Retirement Association of Colorado Has $4.54 Million Stake in Equity Residential (NYSE:EQR)

Public Employees Retirement Association of Colorado lowered its position in Equity Residential (NYSE:EQR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,930 shares of the real estate investment trust’s stock after selling 91 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Equity Residential were worth $4,538,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Anchor Capital Advisors LLC raised its stake in Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares in the last quarter. Delta Asset Management LLC TN raised its stake in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares in the last quarter. Financial Architects Inc raised its stake in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares in the last quarter. Cleararc Capital Inc. raised its stake in Equity Residential by 1.1% in the first quarter. Cleararc Capital Inc. now owns 8,993 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Equity Residential by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 27,252 shares of the real estate investment trust’s stock worth $1,695,000 after buying an additional 120 shares in the last quarter. 92.09% of the stock is owned by hedge funds and other institutional investors.

Equity Residential (EQR) opened at 67.32 on Friday. Equity Residential has a one year low of $58.28 and a one year high of $68.83. The stock has a 50 day moving average of $66.69 and a 200 day moving average of $64.31. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 30.09 and a beta of 0.34.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. During the same quarter last year, the firm earned $0.76 earnings per share. Equity Residential’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that Equity Residential will post $1.40 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s dividend payout ratio is presently 90.58%.

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A number of analysts have commented on the stock. Evercore ISI lifted their target price on shares of Equity Residential from $62.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, April 19th. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Thursday, July 6th. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $66.00 target price on shares of Equity Residential in a report on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $67.00 target price on shares of Equity Residential in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.08.

In related news, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total transaction of $65,630.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan W. George sold 28,157 shares of Equity Residential stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Insiders have sold 55,838 shares of company stock valued at $3,724,023 in the last three months. 3.79% of the stock is owned by insiders.

About Equity Residential

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

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