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

State of Alaska Department of Revenue grew its holdings in Equity Residential (NYSE:EQR) by 2.1% during the first quarter, Holdings Channel.com reports. The firm owned 225,753 shares of the real estate investment trust’s stock after acquiring an additional 4,578 shares during the period. State of Alaska Department of Revenue’s holdings in Equity Residential were worth $16,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of EQR. Norges Bank bought a new stake in shares of Equity Residential during the fourth quarter worth $2,493,426,000. Northern Trust Corp increased its holdings in Equity Residential by 53.1% in the fourth quarter. Northern Trust Corp now owns 6,476,004 shares of the real estate investment trust’s stock valued at $464,718,000 after purchasing an additional 2,246,555 shares during the last quarter. Invesco Ltd. increased its holdings in Equity Residential by 12.0% in the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust’s stock valued at $468,050,000 after purchasing an additional 696,343 shares during the last quarter. Adelante Capital Management LLC increased its holdings in Equity Residential by 172.1% in the fourth quarter. Adelante Capital Management LLC now owns 1,077,337 shares of the real estate investment trust’s stock valued at $77,310,000 after purchasing an additional 681,356 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in Equity Residential by 79.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,161,137 shares of the real estate investment trust’s stock valued at $83,323,000 after purchasing an additional 512,723 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Down 0.5%

NYSE:EQR opened at $68.72 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $26.11 billion, a PE ratio of 26.23, a PEG ratio of 4.03 and a beta of 0.90. Equity Residential has a 52-week low of $59.41 and a 52-week high of $78.84. The stock has a 50-day simple moving average of $69.09 and a 200 day simple moving average of $70.12.

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

Equity Residential Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on EQR. Mizuho dropped their price objective on Equity Residential from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Truist Financial increased their price target on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Royal Bank Of Canada increased their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Barclays increased their price target on Equity Residential from $79.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Wedbush restated a “neutral” rating and issued a $75.00 price target on shares of Equity Residential in a report on Wednesday, May 28th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.25.

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.